Retail Giant Enters Bitcoin Market

GameStop has officially entered the Bitcoin arena with a 【$513 million】 purchase of 4,710 BTC, according to a May 28 announcement. The video game retailer’s X account confirmed the transaction but withheld details on timing or acquisition costs. This follows its March disclosure about exploring cryptocurrency investments through a $1.3 billion convertible notes offering.

Market Reacts to Crypto Strategy

Speculation around GameStop’s crypto plans has fueled its stock performance since February. GME shares surged 18% during initial rumors and gained another 12% in March after the Bitcoin investment plan surfaced. TradingView data shows the stock climbed to $36.30 in pre-market trading post-announcement, marking a 30% monthly increase.

Corporate Bitcoin Trend Accelerates

——The move positions GameStop alongside MicroStrategy and other public companies adopting Bitcoin treasuries——. Michael Saylor’s firm pioneered this strategy in 2020, now holding over 214,000 BTC. Japan’s Metaplanet and Brazil’s Meliuz similarly expanded Bitcoin holdings this year. Notably, Trump Media and Technology Group recently secured $2.5 billion for potential BTC purchases despite earlier denials.

Unanswered Questions Remain

The SEC filing provided minimal operational details, leaving analysts questioning whether GameStop used debt financing for the purchase. Cointelegraph’s inquiry to the company went unanswered at press time. Market observers now watch whether this signals a broader pivot toward digital assets by traditional retailers.

Bitcoin’s Institutional Appeal Grows

With Bitcoin hovering near $110,000 at publication, GameStop’s bet reflects increasing corporate confidence in cryptocurrency as a reserve asset. The purchase represents approximately 0.025% of Bitcoin’s total supply, underscoring tightening market liquidity as institutional adoption expands.