GameStop buys $513 million in bitcoin to fuel crypto strategy

GameStop makes $513 million bitcoin bet in digital asset shift

Robert Besser
01 Jun 2025, 04:59 GMT+10

GameStop buys $513 million in bitcoin to fuel crypto strategy

GameStop has taken a significant step into the world of cryptocurrencies, revealing this week that it has purchased approximately US$513 million worth of bitcoin in a bid to diversify its assets and attract investor interest
In a regulatory filing, the video game retailer said it had acquired 4,710 bitcoins, though it did not specify the exact timeframe of the purchases, as of 7 a.m. ET, bitcoin was trading down 0.7 percent at $108,903
This marks the company's first bitcoin purchase since it announced in March that it would adopt a digital asset investment strategy similar to the one pioneered by enterprise software firm Strategy, led by bitcoin proponent Michael Saylor.

GRAPEVINE, Texas: GameStop has taken a significant step into the world of cryptocurrencies, revealing this week that it has purchased approximately US$513 million worth of bitcoin in a bid to diversify its assets and attract investor interest.

In a regulatory filing, the video game retailer said it had acquired 4,710 bitcoins, though it did not specify the exact timeframe of the purchases, as of 7 a.m. ET, bitcoin was trading down 0.7 percent at $108,903.

This marks the company's first bitcoin purchase since it announced in March that it would adopt a digital asset investment strategy similar to the one pioneered by enterprise software firm Strategy, led by bitcoin proponent Michael Saylor. Strategy remains the largest corporate holder of bitcoin and has benefited from investor enthusiasm tied to rising crypto prices.

For GameStop, once at the center of the 2021 meme-stock surge, the move signals a fresh attempt to revive interest in the company as it continues to struggle with declining sales from its core brick-and-mortar video game business.

Shares of the Dallas-based company rose 4.4 percent in pre-market trading following the announcement.

GameStop reported holding $4.78 billion in cash, cash equivalents, and marketable securities as of February 1.

The announcement follows a similar move by Trump Media and Technology Group, the social media company tied to former President Donald Trump, which said this week it plans to raise $2.5 billion to buy bitcoin.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.

More Information

null in null

Business

Section

GameStop makes $513 million bitcoin bet in digital asset shift

GRAPEVINE, Texas: GameStop has taken a significant step into the world of cryptocurrencies, revealing this week that it has purchased...

US housing outlook dims as buyers await lower rates, BofA finds

Uncertainty hits US homebuyers as mortgage rates climb again

NEW YORK CITY, New York: Rising mortgage rates and economic uncertainty are leaving many Americans unsure about whether to buy a home—just...

Texas bill targets app store access for minors, awaits governor’s nod

Texas set to require age checks on Apple and Google app stores

SAN FRANCISCO, California: Texas is set to become the first major U.S. state to require Apple and Google to verify the age of users...

US optimism rises after tariff pause, survey shows

US consumer confidence rebounds in May, but tariff fears linger

WASHINGTON, D.C.: After months of steady decline, U.S. consumer confidence saw a significant rebound in May—buoyed in part by a temporary...

U.S. stocks end day, week, month with mixed performances

Wall Street closes out week with lackluster performance

NEW YORK, New York - Uncertainty over trade tariffs kept invetsors and tradersv at bay on Friday with the major indices finishing mixed....

Skechers deal sparks wave of take-private talks amid trade turmoil

Retailers hit by Trump's tariffs eye private deals for stability

NEW YORK CITY, New York: As trade policy uncertainty rattles markets and slashes valuations, a growing number of U.S. retailers are...

Engineering

Section

GameStop makes $513 million bitcoin bet in digital asset shift

Watch latest videos

News RELEASES

Business

GameStop makes $513 million bitcoin bet in digital asset shift

US housing outlook dims as buyers await lower rates, BofA finds

Texas bill targets app store access for minors, awaits governor’s nod

US optimism rises after tariff pause, survey shows

U.S. stocks end day, week, month with mixed performances

Skechers deal sparks wave of take-private talks amid trade turmoil

Engineering

Newly built "mini-great wall" in Nepal becomes major tourist attraction

Mansukh Mandaviya inaugurates 30-bedded ESIC hospital in Himachal's Kala Amb

"Karnataka should become a drug-free state": CM Siddaramaiah

"Ahilyabai Holkar was not just a ruler, but also a symbol of women empowerment": Haryana CM Saini

ADU elevates innovation at 12th Undergraduate Research and Innovation Competition

JP Nadda, Rajasthan CM Sharma review health initiatives in state

Movie Review

Planet of the Apes (1968) [DVD]