Finance

GameStop Makes Bold Move: Invests $513 Million in Bitcoin

2025-05-28

Author: Sophie

GameStop Dives into Cryptocurrency

In a surprising turn of events, GameStop, the beleaguered video game retailer, has announced a hefty investment of approximately $513 million in Bitcoin. This strategic move signals the company’s ambition to tap into the rapidly expanding cryptocurrency market.

Acquisition Details

According to a recent filing, GameStop acquired a total of 4,710 bitcoins, marking its first venture into crypto since revealing plans to invest in digital assets back in March. However, the company has yet to reveal the timeline of these purchases.

Following the Digital Asset Trend

GameStop’s decision mirrors strategies employed by leading corporations, notably Michael Saylor's enterprise software firm, which has gained considerable attention as a major corporate bitcoin holder. Saylor's stock has benefited significantly from the soaring value of Bitcoin, drawing in investors eager for cryptocurrency exposure without the need for direct investment.

Reviving Investor Interest

Once a darling in the meme-stock boom of 2021, GameStop hopes this bold pivot into crypto will reignite interest from investors as it works to revitalize its core business of in-store video game sales amid a digital-first marketplace. Following the announcement, shares of the Dallas-based company saw a notable 4.4% increase in pre-market trading.

Financial Standing

As of February 1, GameStop reported robust financials, boasting $4.78 billion in cash, cash equivalents, and marketable securities, providing a strong cushion for this new venture.

Market Context

Interestingly, this announcement follows a significant move by Trump Media and Technology Group, which recently disclosed plans to raise $2.5 billion to purchase Bitcoin, further underscoring the burgeoning interest in cryptocurrency among various sectors.