GameStop Acknowledges Acquisition of 4710 Bitcoins Valued at More Than Half a Billion
On 28 May 2025, the well-known American video game and electronics chain GameStop announced the acquisition of 4710 Bitcoins via a post on X. This marks the company’s initial venture into crypto, especially following Bitcoin’s recent all-time high, with an estimated value exceeding $512 million.
This decision follows the unanimous approval from GameStop’s board in February 2025 for an update to its investment policy, incorporating Bitcoin as a treasury-reserve asset.
On 26 March 2025, the firm expressed its plan to utilize its $1.3 billion from a private offering of convertible senior notes (which can be exchanged for company stock) “for general corporate purposes, including Bitcoin acquisition in alignment with GameStop’s Investment Policy.”
$GME This 4,710 BTC acquisition positions GameStop as the 13th public entity globally with the largest BTC holdings. pic.twitter.com/Y41uXV7bsZ
— Han Akamatsu 赤松 (@Han_Akamatsu) May 28, 2025
Explore: Is GameStop the New Strategy? GME Bitcoin Reserve Insights Unveiled
GameStop CEO Ryan Cohen Emulates Michael Saylor
The trading market responded favorably as GameStop stocks jumped 4.3% during premarket trading, with GME currently valued at $36.52.
GameStop’s CEO Ryan Cohen is recognized for his pro-Bitcoin stance. Following in Strategy’s Michael Saylor’s footsteps, Cohen also shared a photograph with him in February 2025.
Saylor has accumulated billions in BTC, with the latest announcement on 1 May 2025 revealing that he has acquired 15,355 Bitcoins, valued at over $1.4 billion.
Strategy is expected to keep acquiring more BTC, supported by a combination of Class A and Series A preferred share offerings. With over 553,000 Bitcoin in its possession, Strategy’s purchases emphasize its robust faith in Bitcoin and anticipation of a pump in future years.
NEW: Michael Saylor met with GameStop CEO Ryan Cohen last night
#Bitcoin pic.twitter.com/YkSDDXBNJ7
— BTC Magazine (@BitcoinMagazine) February 8, 2025
GAMESTOP CEO RYAN COHEN: “I like looking where no one else is. That’s where the best opportunities are.”
And you still think he’s not acquiring Bitcoin?
— Simply Bitcoin (@SimplyBitcoinTV) May 22, 2025
DISCOVER: 7 High-Risk High-Reward Cryptos for 2025
Key Takeaways
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GameStop announced the procurement of 4710 Bitcoins valued at over half a billion, via a post on X,
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The crypto market had a positive response as GameStop shares increased by 4.3% in early trading. Currently GME is valued at $36.52.
The article GameStop Confirms Purchase of 4710 Bitcoins Worth Over Half a Billion first appeared on 99Bitcoins.
