Video game retailer acquires 4,710 Bitcoin in first cryptocurrency investment, marking strategic shift toward digital assets
GameStop Corp. (NYSE: GME), the iconic video game and consumer electronics retailer, officially confirmed its entry into cryptocurrency investing on Wednesday, announcing the purchase of 4,710 Bitcoin worth approximately $513 million at current market prices.
GameStop has purchased 4,710 Bitcoin. pic.twitter.com/gGdr0BRrAv
— GameStop (@gamestop) May 28, 2025
The Dallas-based company disclosed the acquisition through both an official statement and social media announcement, though it did not specify the exact purchase dates or the average price paid per Bitcoin. The purchase represents GameStop’s first publicly acknowledged Bitcoin investment since the company disclosed plans to move into Bitcoin investment in March.
Strategic Pivot to Alternative Assets
The move follows GameStop’s March announcement of plans to pursue a Bitcoin treasury strategy, which included a $1.3 billion convertible senior notes offering to fund Bitcoin purchases. The company had previously indicated it would fund the Bitcoin purchases through debt financing, signaling a deliberate strategic shift in how it manages its substantial cash reserves.
The company reported $4.78 billion in cash, cash equivalents and marketable securities as of Feb. 1, meaning the Bitcoin investment represents approximately 10.7% of its liquid assets. This allocation demonstrates a measured approach to cryptocurrency adoption while maintaining significant cash reserves for operational needs.
Also Read: GameStop Can Now Invest in Bitcoin
Following Corporate Bitcoin Adoption Trend
GameStop’s move places it among a growing list of public companies adopting Bitcoin as a treasury asset. The purchases are GameStop’s first bitcoin purchase since unveiling its plans in March to invest in the digital asset, adopting a strategy pioneered by Michael Saylor’s Strategy (MSTR.O), an enterprise software company and the largest corporate holder of bitcoin.
The purchase comes amid a surge in corporate Bitcoin adoption, with over 50 public companies announcing Bitcoin treasury programs in the first five months of 2025. Other notable corporate Bitcoin holders include Tesla, which maintains a $1.25 billion Bitcoin position, and more recently, Trump Media and Technology Group, which announced plans to raise $2.5 billion for Bitcoin purchases.
Market Response and Implications
The announcement generated immediate positive market reaction. Shares of the Dallas, Texas-based company were 4.4% higher in pre-market trading following the Bitcoin disclosure. According to TradingView, GameStop shares closed at $35 on May 27 and were trading at $36.30 in the pre-market at the time of publication. The stock is up around 30% in the past 30 days, with year-to-date gains of about 10%.
The Bitcoin investment represents a significant strategic pivot for GameStop, which has been working to transform its business model in the digital age. For GameStop, which was at the center of 2021’s meme-stock frenzy, the move could boost investor interest at a time it is struggling to turn around its mainstay business of selling video games through brick-and-mortar stores in the digital age.
Financial Strategy and Timing
The timing of GameStop’s Bitcoin investment comes during a period of heightened institutional interest in cryptocurrency. The announcement comes a day after Trump Media and Technology Group (DJT.O), U.S. President Donald Trump’s social media firm, said it would raise $2.5 billion to buy bitcoin.
Bitcoin was trading at approximately $108,900 at the time of the announcement, down slightly from recent highs but maintaining strong momentum throughout 2025. The cryptocurrency market has seen increased institutional adoption and regulatory clarity, making it more attractive for corporate treasury strategies.
Looking Forward
GameStop’s Bitcoin purchase signals the company’s willingness to explore innovative financial strategies beyond its core retail operations. The investment provides the company with exposure to a potentially appreciating digital asset while diversifying its substantial cash holdings.
The video game retailer joins a growing cohort of forward-thinking companies recognizing Bitcoin’s potential as both a hedge against inflation and a growth asset. As more corporations announce similar treasury strategies, GameStop’s early adoption could position it favorably among investors seeking exposure to both traditional retail and emerging digital assets.
The company has not announced plans for additional Bitcoin purchases, but given its substantial remaining cash reserves and the success of similar strategies at other public companies, further cryptocurrency investments remain a possibility as GameStop continues its digital transformation journey.
At press time, GameStop shares were trading higher in pre-market activity, while Bitcoin maintained its position above $108,000, reflecting continued institutional confidence in the leading cryptocurrency.
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