GameStop, the American video game retailer, has announced the acquisition of 4,710 Bitcoin, as revealed in a post on X dated May 28. The company has not elaborated on the details surrounding this purchase.
This development follows GameStop’s decision to adopt Bitcoin as a treasury reserve asset, a strategic move made in March. The announcement has sparked interest among both the gaming and crypto communities.
GameStop has purchased 4,710 Bitcoin. pic.twitter.com/gGdr0BRrAv
— GameStop (@gamestop) May 28, 2025
CEO Ryan Cohen had previously signaled a pivot towards cryptocurrency, sharing an image with Strategy’s Executive Chairman Michael Saylor, a key proponent of corporate Bitcoin adoption. This hints at a broader strategy to align GameStop with emerging digital asset trends.
Earlier reports from Finance Newso in February indicated that the retailer was contemplating the inclusion of Bitcoin and other digital currencies to its balance sheet, showcasing a growing interest in diversifying assets.
GameStop’s move into the world of cryptocurrency is not entirely new. In 2022, the company launched a crypto wallet designed to capitalize on the Web3 trend but ultimately discontinued it a year later due to regulatory challenges.
Despite past setbacks, GameStop continues to resonate with the gaming community and the retail investors, often referred to as the “degen” crowd, who famously fueled its stock surge during the 2021 meme stock phenomenon. The company remains a focal point for those curious about the intersection of gaming and crypto.
GameStop Joins Other Corporations Adopting Bitcoin as Reserve Asset
This strategic acquisition places GameStop alongside other corporations that are incorporating digital assets into their financial frameworks. Recently, Blockchain Group, a French crypto holding company, disclosed plans to acquire an additional $72 million worth of Bitcoin following a successful bond sale of €63.3 million.
On May 20, Blackstone, the world’s leading alternative asset manager, marked its entry into the crypto market by purchasing shares in BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin exchange-traded fund, as filed with the U.S. Securities and Exchange Commission. Blackstone’s acquisition of 23,094 IBIT shares was valued at around $1.08 million as of March 31.
In a parallel development, DigiAsia Corp, an Indonesian fintech company, saw its shares soar over 91% on May 19 after announcing plans to raise $100 million for Bitcoin purchases as part of a new treasury approach.
Furthermore, Trump Media & Technology Group has also expressed intentions to raise $2.5 billion for crypto investments, thus joining a trend of various firms emulating MicroStrategy’s model for crypto asset acquisition.
The post GameStop Adds 4,710 Bitcoins to Treasury Amid Crypto Push appeared first on Finance Newso.
