2025-05-29
On May 28, 2025, GameStop Corp. (NYSE:
GME) announced its first major cryptocurrency investment, purchasing 4,710
bitcoins valued at about $506 million.
GameStop on X: "GameStop has purchased 4,710 Bitcoin.
The company updated investment policy
from March 2025, which designated Bitcoin as a treasury reserve asset.
The acquisition was financed through a
$1.3 billion convertible bond sale completed earlier this year.
Despite the investment, GameStop's
stock experienced volatility, initially rising in pre-market trading but
closing down nearly 11% on the day of the announcement.
This policy mirrors strategies employed
by other companies like MicroStrategy (now known as Strategy), which has
significantly increased its Bitcoin holdings over time.
GameStop's foray into cryptocurrency
reflects a trend of corporations diversifying their assets with digital
currencies.
