GameStop Buys $513 Million in Bitcoin to Reinforce Its Cryptocurrency Strategy

GameStop Corp. has confirmed the purchase of 4,710 bitcoins, valued at roughly $513 million, as part of a planned move into cryptocurrency investments. The announcement, released through a regulatory filing on Wednesday, highlights the company's continued effort to reposition itself in a changing financial environment where digital assets are gaining traction.

The company did not disclose the exact timeline of the transactions. As of 7 a.m. ET, bitcoin (BTC-USD) was priced at $108,903, down 0.7% on the day.

This marks GameStop’s first significant crypto acquisition since March, when it first outlined plans to allocate capital into bitcoin. The decision reflects a growing trend among publicly traded firms to hold cryptocurrency as part of their treasury strategy. One of the most notable examples is Strategy (MSTR), the software company led by Michael Saylor, which has consistently increased its bitcoin holdings over the past few years. Strategy’s stock performance has closely followed bitcoin’s price movements, which has drawn the interest of investors looking for indirect exposure to crypto assets.

GameStop Seeks Stability and Growth Beyond Retail

GameStop, once a dominant player in the brick-and-mortar video game market, has faced ongoing challenges in recent years. The rise of digital downloads, online game stores, and subscription-based gaming has diminished demand for physical sales, leading to declining store traffic and shifting consumer behavior.

With the industry evolving, the company has been under pressure to find new paths for growth. The bitcoin purchase adds a new layer to its turnaround strategy, aimed at increasing long-term value for shareholders and capturing the attention of investors interested in alternative assets.

GameStop gained renewed visibility in 2021 during the retail trading surge, when it became a heavily discussed stock on social media platforms. Since then, however, the company has struggled to convert that momentum into a sustained business recovery. As of February 1, the company reported holding $4.78 billion in cash, cash equivalents, and marketable securities—providing it with the liquidity needed to take bold financial steps.

Following Wednesday’s announcement, GameStop shares rose 4.4% in pre-market trading, reflecting early investor approval of the move.

Growing Interest in Bitcoin Among U.S. Companies

GameStop’s announcement comes at a time when more companies are starting to include bitcoin on their balance sheets. On Tuesday, Trump Media and Technology Group, the social media company linked to former U.S. President Donald Trump, said it would raise $2.5 billion to purchase bitcoin. This growing wave of corporate interest in digital currency highlights changing views on asset diversification and capital management.

Bitcoin’s increasing acceptance has been supported by the launch of spot bitcoin exchange-traded funds (ETFs) and greater mainstream awareness. Companies are also viewing bitcoin as a tool for long-term value preservation amid economic uncertainty and currency fluctuations.

Whether GameStop’s latest move will strengthen its overall financial outlook remains to be seen. However, it adds a new dimension to the company’s ongoing efforts to modernize its strategy in a fast-changing market.

Also Read: Trump Media to Raise $2.5 Billion to Build Bitcoin Treasury Backed by Institutional Investors