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 a statement posted May 28 on the company’s X account. The announcement is GameStop’s first publicly acknowledged Bitcoin ( BTC ) purchase since the company disclosed plans to move into Bitcoin investment in March. 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 . Source: GameStop GameStop (GME) stock shares have climbed amid the speculation, jumping 12% in March. February rumors helped fuel 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 about 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)

Source: CoinTelegraph