GameStop Confirms Purchase of 4710 Bitcoins Worth Over Half a Billion

Guy Fawkes 2025.05.29 3 min read

On 28 May 2025, popular American video game and electronics retailer GameStop confirmed the purchase of 4710 Bitcoins through a post on X. The company’s first crypto investment, especially after Bitcoin’s recent ATH, is worth over $512 million.

The move comes after GameStop’s board unanimously approved an update to its investment policy to add BTC as a treasury-reserve asset in February 2025.

On 26 March 2025, the company stated its intention to use its $1.3 billion in private offering of convertible senior notes (that can later be swapped for company stock) “for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy.”

$GME This 4,710 Bitcoin purchase make GameStop the 13th public company with the most Bitcoin in the world. pic.twitter.com/Y41uXV7bsZ

— Han Akamatsu 赤松 (@Han_Akamatsu) May 28, 2025

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GameStop CEO Ryan Cohen Follows In Michael Saylor’s Footsteps

The market reacted positively as GameStop shares surged 4.3% in premarket trading. Currently GME is trading at $36.52.

GameStop CEO Ryan Cohen is known to be a pro-Bitcoin head. Following in the footsteps of Strategy’s Michael Saylor, Cohen also shared a picture with him in February 2025.

Saylor bought billions worth of BTC. The most recent update, on 1 May 2025, is that Saylor has acquired 15,355 Bitcoins worth over $1.4 billion.

Strategy is likely to continue buying more BTC, funded through a mix of Class A and Series A preferred share offerings. With over 553,000 BTC under control, Strategy’s purchase underscores its strong conviction in Bitcoin and belief that it will rally in the coming years.

NEW: Michael Saylor met with GameStop CEO Ryan Cohen last night #Bitcoin pic.twitter.com/YkSDDXBNJ7

— Bitcoin 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 stacking Bitcoin? pic.twitter.com/43axRAf4J5

— Simply Bitcoin (@SimplyBitcoinTV) May 22, 2025

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