America’s prominent video game retailer, GameStop, has made headlines with its bold entry into the cryptocurrency market. The company has confirmed the purchase of its first Bitcoin, marking a new chapter in its investment strategy and signaling its willingness to explore innovative opportunities in the digital realm.
In a noteworthy development, the company disclosed its latest financial maneuver, revealing the purchase of 4,710 BTC via a brief statement on X.
GameStop Delves Into Cryptocurrency
This milestone marks GameStop’s first publicly disclosed Bitcoin purchase, following its announcement in March 2025 to venture into cryptocurrency investment.
At the time, the company revealed its intention to leverage debt financing, specifically through a $1.3 billion convertible notes offering, to support its Bitcoin acquisition plans.
This development follows months of speculation, with online reports in February 2025 hinting at GameStop’s potential exploration of alternative assets, including crypto.
GameStop’s CEO, Ryan Cohen, sparked speculation about the company’s potential adoption of Bitcoin after posting a photo with MicroStrategy’s Michael Saylor, leading to a 6% surge in the company’s stock price.
GameStop’s announcement of a Bitcoin investment in March sparked a 12% increase in the company’s GME shares. This added to an earlier 18% gain triggered by speculation about the company’s potential crypto investments.
As of May 28, GameStop’s shares were trading at $35.01, representing a 5.99% increase, and its market capitalization stood at $15.76 billion, according to TradingView data.
Not The First
Nasdaq-listed SharpLink Gaming has garnered considerable attention with its recent announcement of securing $425 million in funding through a PIPE deal, with the investment slated to be directed towards Ethereum, underscoring the company’s strategic interest in the cryptocurrency.
MetaPlanet, a Japanese tech firm, has seen remarkable success with its Bitcoin investment strategy, earning it the nickname “Asia’s MicroStrategy.” Since adopting Bitcoin in April 2024, the company’s stock value has surged over 400%, with a notable 443.2% increase following a series of strategic BTC purchases. MetaPlanet continues to accumulate crypto holdings, mirroring MicroStrategy’s approach.
GameStop is confident about its new strategy, aiming to mirror the success of Metaplanet, which saw its stock price skyrocket over 400% in a short span after embracing Bitcoin reserves.
