GameStop officially confirms first Bitcoin purchase of 4,710 BTC
GameStop, the US video game and consumer electronics retailer, has confirmed its first Bitcoin investment, acquiring 4,710 Bitcoin for $513 million, according to an official statement posted May 28 on the company’s X account.The announcement is the first publicly acknowledged Bitcoin (BTC) purchase by GameStop since the company disclosed plans to move into Bitcoin investment in March 2025.At the time, GameStop said it would fund the Bitcoin purchase through debt financing and launched a $1.3 billion convertible notes offering.The news comes after months of speculation that GameStop was exploring alternative assets, including cryptocurrencies. Rumors began circulating in February.Source: GameStopShares of GameStop (GME) stock climbed amid the speculation, jumping 12% in March. The February speculation fueled an 18% spike in GME stock prices.According to TradingView, GameStop shares closed at $35 on May 27 and were trading at $36.30 in the pre-market at the time of publication. The stock is up around 30% in the past 30 days, with year-to-date gains of roughly 10%.This is a developing story, and further information will be added as it becomes available.Magazine: Bitcoin vs. the quantum computer threat: Timeline and solutions (2025–2035)
GameStop, the US video game and consumer electronics retailer, has confirmed its first Bitcoin investment, acquiring 4,710 Bitcoin for $513 million, according to an official statement posted May 28 on the company’s X account.
The announcement is the first publicly acknowledged Bitcoin (BTC) purchase by GameStop since the company disclosed plans to move into Bitcoin investment in March 2025.
At the time, GameStop said it would fund the Bitcoin purchase through debt financing and launched a $1.3 billion convertible notes offering.
The news comes after months of speculation that GameStop was exploring alternative assets, including cryptocurrencies. Rumors began circulating in February.
Shares of GameStop (GME) stock climbed amid the speculation, jumping 12% in March. The February speculation fueled an 18% spike in GME stock prices.
According to TradingView, GameStop shares closed at $35 on May 27 and were trading at $36.30 in the pre-market at the time of publication. The stock is up around 30% in the past 30 days, with year-to-date gains of roughly 10%.
This is a developing story, and further information will be added as it becomes available.
Magazine: Bitcoin vs. the quantum computer threat: Timeline and solutions (2025–2035)
