Want to learn Strategy? GameStop spent over $500 million to buy 4,710 bitcoins

Zhitong
2025.05.28 12:28
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GameStop announced the purchase of 4,710 bitcoins, valued at approximately $513 million, and updated its investment policy to include bitcoin in its financial reserves. The company's cash reserves amount to $4.76 billion, and its stock price rose over 2% following the announcement. The price of bitcoin is $108,900 per coin. The number of publicly traded companies holding bitcoin globally increased from 89 to 113, holding over 800,000 bitcoins, with a market value of approximately $88 billion. The price of bitcoin has risen 50% since early April

According to Zhitong Finance APP, GameStop (GME.US) announced on Wednesday that the company has purchased 4,710 bitcoins, with a market value of approximately $513 million. Meanwhile, GameStop announced that its board of directors has unanimously approved an update to its investment policy to include bitcoin as part of the company's financial reserve assets. The financial report shows that as of the end of the first quarter, the company's cash reserves amounted to $4.76 billion.

Boosted by this news, GameStop's stock rose over 2% in pre-market trading on Wednesday. Bitcoin is priced at $108,900 per coin.

It is reported that other U.S. listed companies holding bitcoin include: MicroStrategy (MSTR.US), Tesla (TSLA.US), CleanSpark (CLSK.US), and Coinbase (COIN.US), among others. MicroStrategy is the most well-known. Since it began purchasing and holding bitcoin in 2020, MicroStrategy has become one of the largest holders of cryptocurrency, and its stock appeal has been enhanced, often performing in line with cryptocurrency. The company announced a plan called "21/21" last November, aiming to raise $42 billion over the next three years—$21 billion each through equity and debt financing—to purchase more bitcoin.

GameStop appears to be just one of many companies learning from MicroStrategy. Data from BitcoinTreasuries.net shows that the number of publicly listed companies holding bitcoin worldwide surged from 89 in early April to 113, collectively holding over 800,000 bitcoins, with a market value of approximately $88 billion.

Since early April, bitcoin has soared by 50% and briefly surpassed a new high of $111,000. This round of bitcoin rebound is influenced by multiple factors, including easing trade tensions boosting risk appetite, a decline in market volatility, a warming financing environment, and the Trump administration's friendly stance towards cryptocurrency.

Reports indicate that under the boost of soaring bitcoin prices, a group of shell companies operated by the Trump family, veteran figures in the cryptocurrency space, and Wall Street capital are flocking to issue stocks and bonds to raise substantial funds to purchase bitcoin, attempting to replicate MicroStrategy's explosive growth path

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