GameStop Corp. (NYSE: GME) has announced the purchase of 4,710 Bitcoin (BTC), marking a significant step in its strategic shift toward digital assets.
GameStop has not officially declared its acquisition price. However, it’s assumed the company spent around $500 million to purchase 4710 Bitcoins at the current market price.
This move reflects the company’s growing interest in blockchain and cryptocurrency technologies as part of its broader transformation from a traditional video game retailer to a more diversified, digitally focused enterprise.
By acquiring Bitcoin, GameStop joins the ranks of other major corporations, such as MicroStrategy, Tesla, and Block, that have added crypto to their balance sheets either as a hedge against inflation or a long-term investment.
GameStop Confirms First Bitcoin Buy Since Announcing Crypto Plans in March
GameStop’s recent announcement marks its first publicly confirmed Bitcoin purchase since it revealed plans to enter the crypto space in March.
Back then, the company signaled its intention to invest in Bitcoin and other digital assets as part of its broader transformation strategy.
To fund the acquisition, GameStop launched a $1.3 billion convertible notes offering, indicating it would use debt financing to support the move.
This strategic shift highlights the company’s effort to diversify its holdings and align with emerging financial trends.
Also Read: GameStop Joins Bitcoin Bandwagon, Board Approves BTC as Reserve Asset
GameStop’s Bold Bitcoin Move Echoes Its 2021 WallStreetBets-Fueled Trading Frenzy
The investment is seen as a bold play, especially in light of GameStop’s recent history. In 2021, it became the face of a retail trading revolution, when individual investors on Reddit’s WallStreetBets drove its stock up over 1,600% in a short squeeze that caught hedge funds off guard.
Now, by embracing Bitcoin, GameStop appears to be aligning with a younger, tech-savvy investor base while also diversifying its financial strategy.
This move is likely to attract further attention from both retail and institutional investors, possibly boosting confidence in GameStop’s evolving business model.
It also signals broader corporate acceptance of Bitcoin as a legitimate asset class with long-term value potential in today’s rapidly changing financial landscape.
GameStop Shares Trade in Positive Territory
As of May 28, 2025, GameStop Corp shares are trading at $35.01, reflecting a 5.99% increase from the previous close.
The shares saw an upscale of over 1% in pre-market trading, following the company’s announcement of purchasing 4,710 Bitcoin, signaling a strategic shift towards digital assets.
The stock has experienced a 27% rise over the past month, indicating renewed investor interest. Despite these gains, analysts express caution due to challenges in GameStop’s core retail business, including declining sales and increased competition from online retailers.
The company’s upcoming Q1 2025 earnings report, expected between June 5 and June 9, will be closely watched for insights into its financial health and the impact of its cryptocurrency investments.
Also Read: Michael Saylor’s Strategy Continues Bullish Bets on Bitcoin with Latest 4,020 BTC Purchase