GameStop Announces Acquisition of 4,710 Bitcoins Valued Over $500 Million

On May 28, 2025, GameStop, the well-known American retailer specializing in video games and electronics, confirmed it purchased 4,710 Bitcoins through a post on X. This marks the company’s first major crypto investment, valued at more than $512 million, shortly after Bitcoin reached a new all-time high.

The decision follows GameStop’s board unanimously approving an update to its investment policy in February 2025, officially adding Bitcoin as a treasury reserve asset.

Earlier, on March 26, 2025, GameStop revealed plans to utilize proceeds from a $1.3 billion private offering of convertible senior notes—securities that can later convert to company stock—for general corporate purposes, including acquiring Bitcoin in line with its updated investment policy.

The market responded positively to the announcement, with GameStop shares rising 4.3% in premarket trading. The stock currently trades around $36.52.

Ryan Cohen, GameStop’s CEO, is a known Bitcoin advocate. In February 2025, he publicly showed support by sharing a photo alongside Michael Saylor, the founder of Strategy, who is famed for his massive Bitcoin purchases.

Michael Saylor’s Strategy holds an impressive 15,355 Bitcoins worth over $1.4 billion as of May 1, 2025. The company continues to expand its Bitcoin holdings, supported by capital raised through Class A and Series A preferred share offerings. With a total of more than 553,000 BTC under management, Strategy’s aggressive acquisitions highlight its strong confidence in Bitcoin’s long-term growth potential.