GameStop adds Bitcoin to its treasury
Published: 12:15 28 May 2025 EDT
GameStop Corp (NYSE:GME) has jumped headfirst into crypto, revealing on Wednesday that it bought 4,710 Bitcoin — a stash worth roughly $513 million at current prices.
The video game retailer didn’t say when it made the purchase, what it paid, or whether the move happened all at once or in stages. But the investment comes just a couple of months after GameStop updated its corporate policy in March to allow for cryptocurrency holdings.
Around the same time, the company said it planned to raise $1.3 billion through a convertible bond sale, with some of those funds earmarked for buying Bitcoin.
The news initially gave GameStop’s stock a boost in premarket trading, but the gains didn’t last. By mid-morning Wednesday, shares were down 10%, while Bitcoin was off about 1%, trading at $109,035.
The purchase lands during a hot streak for Bitcoin, which has surged nearly 50% since April and recently notched new all-time highs above $110,000.
GameStop’s buy is the latest in a string of corporate bets on the cryptocurrency, following in the footsteps of firms like Tesla, Riot Platforms, and Acurx Pharmaceuticals.
There’s also Strategy, the business software company whose aggressive Bitcoin accumulation has paid off handsomely after its stock has more than doubled in the past year. Strategy now holds over 580,000 Bitcoin, worth around $33 billion.
Just this week, Trump Media & Technology Group said it plans to raise $2.5 billion to build its own Bitcoin treasury.
