GameStop's Bitcoin Bet: $500 Million Purchase Leads to 184th Rank in Trading Volume

On May 29, 2025, GameStop's trading volume reached $476 million, a significant decrease of 67.98% from the previous day, ranking 184th in the day's stock market activity. GameStop's stock price fell by 5.25%, marking the second consecutive day of decline, with a total decrease of 15.54% over the past two days.

GameStop Corp. announced its first significant foray into the cryptocurrency market by purchasing 4,710 Bitcoin. This acquisition marks the company's initial public acknowledgment of investing in Bitcoin, following its earlier disclosure in March of plans to venture into Bitcoin investments. The purchase is part of GameStop's strategic shift towards diversifying its treasury reserves with cryptocurrency holdings.

Despite the initial surge in GameStop's stock price upon the announcement, the stock quickly retreated. The company did not disclose the total acquisition price or the price per coin, but based on Bitcoin's trading range on the previous day, the purchase is estimated to be worth around $500 million. This move aligns with GameStop's broader strategy to integrate cryptocurrency into its financial operations, potentially attracting investors interested in the intersection of traditional retail and digital assets.