GameStop Acquires $513 Million in Bitcoin, Shares Rise 4%

GameStop Corp., the U.S.-based video game retailer, has made a significant entry into the cryptocurrency market by acquiring 4,710 bitcoins. This move, announced through the company’s official channels, marks a bold step into digital assets and expands the company’s business approach. GameStop joins a growing list of public companies that are adding digital assets to their balance sheets.

The exact timing and total amount of the purchases remain undisclosed, but the current estimate for the acquisition is close to $513 million. The filing with the U.S. Securities and Exchange Commission did not provide many details, but the substantial investment indicates a new strategic direction. Similar to companies like MicroStrategy, GameStop has chosen to include Bitcoin in its treasury, a strategy that has also been adopted by new entrants from various regions due to global economic uncertainty.

The announcement comes as GameStop continues its transformation under the leadership of CEO Ryan Cohen. With a significant portion of its sales coming from physical stores, the company is adapting to the shift towards online shopping. As physical game sales decline, venturing into the digital realm could help restore investor confidence and alter the company’s earnings trajectory. In the pre-market session, shares rose over 4% following the company’s statement, which seems to validate this view.

At the Bitcoin 2025 Conference, Cohen elaborated on the reasons behind the investment. He highlighted Bitcoin’s limited supply, decentralized nature, and global accessibility, making it a standout asset in times of inflation and concerns over currency value. Cohen noted that digital assets like Bitcoin and gold are seen as safeguards against significant financial risks, with Bitcoin’s accessibility and transparent blockchain offering additional advantages.

GameStop has previously indicated its openness to incorporating cryptocurrencies into its financial system. Earlier this year, the company revealed plans to add digital assets to its funds and later stated that there would be no limit on the amount of Bitcoin it could purchase in the future. This strategy aligns with GameStop’s broader goal of exploring growth opportunities beyond traditional retail operations.

While comparisons with MicroStrategy are inevitable given the scale of this move, Cohen emphasized that GameStop’s approach is tailored to its unique situation. He stressed that the company is following its own plan, not merely replicating the strategies of others, indicating a well-considered move for the future.

This significant decision comes as more researchers and businesses express interest in Bitcoin and related opportunities. GameStop’s investment in cryptocurrency signals the company’s belief in digital assets as a crucial part of its overall strategy. While it remains to be seen if this investment will provide lasting value, it marks a key milestone in the company’s evolving narrative.