GameStop Buys 4,710 Bitcoin Valued at $513 Million

GameStop, the prominent U.S. retailer known for video games and consumer electronics, has made a significant move into the crypto market by acquiring 4,710 BTC, as announced on its official X account on May 28, 2025.

This marks the company’s first confirmed investment in Bitcoin, a step that aligns with its earlier indications of exploring alternative assets. While GameStop did not disclose the purchase price or the timing of the transactions, the acquired Bitcoin was valued at approximately $513 million at the time of the announcement. This strategic investment signals GameStop’s intent to diversify its financial portfolio amid evolving market trends.

The announcement follows months of speculation about GameStop’s interest in cryptocurrencies, which began gaining traction in March when the company revealed plans to add Bitcoin purchases through debt financing. To support this initiative, GameStop launched a $1.3 billion convertible notes offering, a move that underscored its commitment to exploring new financial avenues. The retailer’s shift toward Bitcoin reflects a broader trend among corporations seeking to hedge against economic uncertainties and capitalize on the growing acceptance of digital currencies.

Market Response and Stock Performance

GameStop’s foray into Bitcoin has already influenced its market performance. The company’s stock, traded under the ticker GME, experienced notable gains in recent months, with a 12% surge in March fueled by speculation about its cryptocurrency plans. Earlier rumors in February contributed to an 18% spike in share prices. On May 27, GameStop shares closed at $35, with pre-market trading on May 28 reaching $36.30. Over the past 30 days, the stock has risen by approximately 30%, and year-to-date gains stand at around 10%. This upward trajectory suggests investor confidence in GameStop’s strategic direction, particularly its embrace of Bitcoin as a financial asset.

The decision to invest in Bitcoin positions GameStop alongside other major companies that have integrated cryptocurrencies into their balance sheets. As digital currencies continue to gain mainstream acceptance, GameStop’s move could pave the way for further exploration of blockchain-based opportunities. For now, the retailer’s $513 million Bitcoin investment represents a bold step toward redefining its financial strategy.