The post GameStop Buys Over $500 Million Worth of Bitcoin, Will New Treasury Strategy Help Boost GME Stock? appeared on BitcoinEthereumNews.com.

GameStop (GME) has entered the cryptocurrency arena with a significant investment, acquiring 4,710 Bitcoin worth approximately $512.6 million as of May 28.  The purchase, officially disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission, marks the company’s first foray into Bitcoin and aligns with a broader strategy to diversify its balance sheet. The investment follows the company board’s approval in March to adopt Bitcoin as a treasury reserve asset. GameStop raised $1.5 billion through convertible notes in April to support this initiative. With Bitcoin trading near $109,080 on the day of the announcement, the acquisition reflects confidence in the asset’s potential amid global financial uncertainty and growing institutional interest. The move mirrors the playbook pioneered by Strategy (MSTR), which has accumulated 580,250 BTC—approximately 2.7% of Bitcoin’s maximum supply of 21 million. Strategy’s aggressive Bitcoin strategy has driven volatility but also attracted investors seeking crypto exposure without directly purchasing digital assets. GameStop’s CEO Ryan Cohen, who has spearheaded efforts to revitalize the legacy retailer, views the Bitcoin acquisition as part of a broader turnaround plan focused on financial optimization and operational efficiency. The company reported $4.78 billion in cash and equivalents as of February 1, underscoring its capacity to support large-scale strategic investments. Shares of GameStop are down 2.2% following the news, falling from $35.78 at market open to $34.26 at the time of writing. The increasingly competitive trend of Bitcoin treasury companies GameStop certainly isn’t alone in betting on Bitcoin. Trump Media and Technology Group Corp (DJT) announced Tuesday that it had secured $2.5 billion in funding through a private placement with approximately 50 institutional investors. The raise includes $1.5 billion in common stock and $1.0 billion in zero-coupon convertible senior secured notes. The proceeds will be used to establish one of the largest Bitcoin treasuries…

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Filed under: News - @ May 29, 2025 10:28 pm