Video game retailer announced that it has purchased meme stocked GameStop Bitcoincurrently worth around $512 million.
After purchasing 4,710 BTC, the company In early April, it completed its $1.5 billion offer of investor-convertable senior notes.
GameStop bought 4,710 Bitcoins. pic.twitter.com/ggdr0brrav
– GameStop (@gmestop) May 28, 2025
At the time, GameStop said it was planning to use revenue to establish a company’s Bitcoin Treasury Ministry. Though not explicitly stated in Wednesday’s release, this planned reserve $512.79 million Bitcoin acquisition is likely.
In March, GameStop CEO Ryan Cohen posed next to Michael Saylor, co-founder and executive chairman of the strategy that set up a business model for a public company holding Bitcoin as an asset, suggesting the retailer’s Bitcoin plan.
According to TradingView, Strategy’s acceptance of Bitcoin has transformed it from a mid-term business intelligence software company to a company with a market capitalization of $101.76 billion. GameStop appears to be trying to adopt a similar strategy in hopes of similar success.
This is a broken story and will be updated soon.
