On May 28, 2025, GameStop confirmed that it had purchased 4,710 bitcoins, a bold move that has propelled the company into the top 15 Bitcoin holders. Here are the details:
Purchase details: GameStop funded this purchase through a $1.4 billion convertible note sale. The company did not disclose the purchase date or average entry price, but based on the current market price, the holdings are worth approximately $513 million.
Reasons for the purchase: The move is in line with GameStop’s plan to diversify its assets through bitcoin exposure, as revealed in March. The company’s core retail business is under pressure, with its revenue in the first quarter of 2025 showing a year – over – year decline of 28.5%. Therefore, the purchase of bitcoin can be seen as a strategy to hedge against the risks of its traditional retail business.
Market reaction: Google Finance data shows that GameStop’s stock climbed roughly 3% in US pre – market trading after the news was announced. Market analysts believe that GameStop’s entry into the list of major Bitcoin holders could play a role in pushing the price of Bitcoin to new highs.
This is not the first time GameStop has made headlines in the financial world. In 2021, it was at the center of a well – known retail investing event. Now, with its significant Bitcoin purchase, the company is back in the spotlight, highlighting the intersection of cryptocurrency and retail trading.
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