GameStop confirms $513 million bitcoin purchase as crypto investment strategy unfolds
GameStop, the U.S. video game and electronics retailer, has officially confirmed its first major cryptocurrency investment. The company announced via its official X account on May 28 that it had acquired 4,710 Bitcoin (BTC), valued at approximately $513 million at the time of purchase.
This marks GameStop's first publicly disclosed Bitcoin investment since revealing plans to enter the cryptocurrency space in March 2025. At that time, the company said it would finance the purchase using debt and launched a $1.3 billion convertible notes offering to support the move.
Speculation around GameStop's interest in Bitcoin began circulating as early as February. GME shares surged 18% in that month amid early rumors of a crypto move and gained another 12% in March after the company confirmed its investment intentions.
As of May 27, GameStop shares closed at $35 and were trading at $36.30 in pre-market hours, according to TradingView. The stock has climbed approximately 30% in the past 30 days and posted a 10% gain year-to-date.
GameStop's foray into Bitcoin reflects a growing interest among traditional firms in digital assets. This trend has been notably led by companies such as Tesla and MicroStrategy, which have allocated substantial portions of their treasury reserves to Bitcoin in recent years.
The announcement positions GameStop as the latest legacy company to explore cryptocurrency as part of its financial strategy. Further updates are expected as GameStop reveals more about its cryptocurrency roadmap and the strategic role Bitcoin will play in its broader business model.
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