GameStop Confirms Buying $513M Bitcoin
GameStop, an American video game and electronics retail chain, has now officially confirmed its first Bitcoin buy. Consistent with a May 28 statement filed on X (formerly Twitter), the company bought 4,710 BTC.
While GameStop refused to disclose the date or price of purchase, the announced value of the Bitcoin was about $513 million. A subsequent Form 8-K filing with the U.S. Securities and Exchange Commission contained little more information.
This is the first reported Bitcoin purchase by GameStop since the company announced in March 2025 that it plans to consider alternative investment strategies, including digital assets.
Funded Through Convertible Notes Offering
In March, GameStop indicated it would use debt to pay for its Bitcoin program, issuing a $1.3 billion convertible notes deal. That announcement stoked speculation about a potential BTC purchase, now confirmed by the company.
Stock Price Reacts to Crypto Move
GameStop stocks (GME) have also responded positively to the news and previous gossip. The stock rose 12% in March on speculation, and 18% in February. Shares closed at $35 on May 27 and traded at $36.30 prior to opening.
During the past 30 days, GME jumped approximately 30%, with a 10% rise year-to-date.
Part of a Broader Corporate Bitcoin Trend
GameStop is joining the long list of listed firms to include Bitcoin in their treasury strategies. It is following in the footsteps of Michael Saylor’s Strategy (formerly MicroStrategy), which began buying BTC in 2020.
Other firms like Japan’s Metaplanet and Brazil’s Meliuz have added their reserves of Bitcoin in 2025 as well.
Trump Media and Technology Group recently announced it is raising $2.5 billion of capital to acquire Bitcoin, which is growing institutional interest.
What’s Next for GameStop?
The company has not made further statements or releases to media inquiries at the time of press. However, its entry into the Bitcoin space puts it among such powerful players in embracing digital currency as a treasury reserve.
As GameStop continues to redefine its corporate identity in the wake of the meme-stock generation, its entry into crypto might be a watershed moment in its long-term growth strategy.
