GameStop officially buys 4,710 BTC
GameStop buys $513 million in Bitcoin as part of treasury pivot
GameStop has officially entered the Bitcoin market, announcing its first BTC acquisition worth $513 million.
According to a May 28 post on the company’s official X account, the U.S. video game retailer purchased 4,710 Bitcoin, marking its most significant step yet into digital assets, reports Cointelegraph.
The move comes after GameStop revealed plans in March 2025 to diversify its treasury and explore alternative investments such as cryptocurrencies. At that time, it raised $1.3 billion through a convertible notes offering to help fund the purchase.
Speculation Turned Reality Amid Market Hype
Rumors of GameStop’s interest in Bitcoin began circulating in February, fueling a notable rally in GME stock. Investor excitement peaked in March when shares jumped 12% on expectations that the company would follow in the footsteps of other crypto-allocating firms.
The confirmation of the Bitcoin buy appears to validate those earlier reports and underscores the company’s strategic shift under its evolving leadership. As of May 27, GME shares closed at $35 and have risen to $36.30 in pre-market trading.
GameStop Joins Corporate Bitcoin Holders Amid Strategic Pivot
With its Bitcoin investment, GameStop joins the ranks of corporate BTC holders like MicroStrategy and Tesla, positioning itself within the growing cohort of publicly traded firms betting on Bitcoin as a treasury asset.
Year-to-date, GameStop stock is up approximately 10%, with a 30% gain over the past 30 days. While the long-term impact of this move remains to be seen, the company has clearly signaled a willingness to align itself with digital asset adoption amid a shifting financial landscape.
Recently we wrote that Japanese investment firm Metaplanet announced on May 28 that it will raise $50 million through a private placement of zero-interest bonds to further expand its Bitcoin holdings.
