GameStop Goes Crypto with $513M Bitcoin Bet

GameStop has made headlines by investing $513 million in bitcoin , acquiring 4,710 BTC as part of its new digital strategy. The move shows a bold shift as the company looks beyond video games and toward digital assets. This bitcoin purchase is GameStop’s first major step after announcing a digital asset strategy in March. It joins a growing list of companies aiming to tap into the cryptocurrency market as a long-term growth play. With bitcoin priced at $108,903 , the company is taking a calculated risk, despite a slight 0.7% price dip. Investors responded positively, with GameStop shares rising 4.4% in early trading. With $4.78 billion in cash reserves , GameStop is well-positioned to explore new digital opportunities. Its bitcoin buy reflects a bigger trend of companies adding crypto to their balance sheets to stay competitive and attract investor attention. The move echoes similar actions by firms like Trump Media and Technology Group, which recently revealed plans to invest $2.5 billion in bitcoin. Altogether, this shows how more companies are embracing digital assets as part of their financial strategy.

Source: Coinpaprika