GameStop Confirms $513M Bitcoin Purchase, Joins Tesla, MicroStrategy in Corporate Bitcoin Holdings
GameStop has officially joined the corporate Bitcoin bandwagon, confirming a major crypto move with the purchase of 4,710 BTC worth approximately $513 million. The announcement, made via the company’s official X account on May 28, marks a bold pivot in GameStop’s financial strategy as it expands into digital assets.
The move follows GameStop’s earlier statement in March 2025, in which it revealed plans to diversify its treasury portfolio. At the time, the company raised $1.3 billion through a convertible note offering, signalling a clear intent to allocate capital toward alternative assets, including cryptocurrencies.
Hints of a Bitcoin investment first emerged in February, sending GME shares surging amid investor speculation. The stock spiked 12% in March when rumours intensified about a potential treasury allocation into crypto. Those reports have now been confirmed, with GameStop signalling a serious commitment to digital finance.
As of May 27, GameStop’s stock closed at $35, rising to $36.30 in pre-market trading following the announcement. The company’s shares are now up 10% on the year and 30% over the past month.
GameStop now stands alongside other major Bitcoin-holding firms like MicroStrategy and Tesla, further legitimising the trend of publicly traded companies investing in digital assets. The retailer’s strategic shift underscores a broader movement among corporate treasuries seeking to hedge against inflation and diversify beyond traditional fiat instruments.
While the long-term impact of the investment remains uncertain, the move reflects GameStop’s effort to reinvent itself in a rapidly evolving financial landscape.
Meanwhile, as we recently reported, Japanese firm Metaplanet announced plans to raise $50 million through a private placement of zero-interest bonds to grow its own Bitcoin holdings, highlighting an accelerating trend in institutional crypto adoption.
