GameStop's $513 Million Bitcoin Purchase Stirs Market Reaction

Published 16 hours agoGME

GameStop's $513 Million Bitcoin Purchase Stirs Market Reaction

GameStop has announced a major foray into the cryptocurrency market with its acquisition of approximately 4,710 bitcoins, valued at around $513 million, as reported on May 28, 2025. This purchase marks a significant step in GameStop's strategic shift toward crypto investment, a plan that the company first revealed in March 2025.

Initially, the announcement caused GameStop's shares to rise by 4.4% during pre-market trading. However, this gain did not last, as investor concerns regarding the company's strategic move led to a downturn in its stock price. Reuters reported that this market reaction reflects skepticism about the company's decision to pivot from its traditional business of selling physical video games.

This development is reminiscent of the strategy undertaken by Michael Saylor's company, now known as Strategy, which has also aligned its fortunes with Bitcoin investments. Despite GameStop's efforts to diversify its financial strategy, the crypto market remains volatile, with Bitcoin's price swinging amidst broader economic uncertainties.

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