Video game retailer GameStop has bought 4,710 Bitcoin worth around $513 million, marking another major company entry for Bitcoin Treasury holdings as companies will accelerate to add Bitcoin to their balance sheets in 2025.
The company announced its acquisition via X on Wednesday, but did not disclose specific details about when the purchase was made or the average price per coin. The move follows GameStop’s March announcement of its plans to pursue a Bitcoin financial strategy, including a $1.3 billion conversion senior note to fund Bitcoin purchases.
Gamestop’s Bitcoin acquisition represents a strategic change in corporate financial management following a playbook established by companies such as Strategy.
The purchase comes amid a surge in companies’ adoption of Bitcoin, with over 50 public companies unveiling their Bitcoin finance programs in the first five months of 2025.
The announcement saw GameStop’s share increase by 4.4% in pre-market trading, while Bitcoin traded nearly $108,900. The company reported $4.788 billion in cash and marketable securities as of February 1st. This suggests that this Bitcoin investment accounts for around 10.7% of its current assets.
The move follows similar Treasury diversification strategies by other large companies, including Tesla’s $1.25 billion in Bitcoin holdings and recent announcements from Trump Media and Technology Group, raising $2.5 billion for Bitcoin purchases.
At the press conference, Bitcoin will trade at $108,900, a 0.68% drop in the last 24 hours. This is because the market is handling this important institutional development and the impact on Bitcoin’s wider corporate recruitment as a financial asset.
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