The official OKX app features seamless multilingual interface switching, providing global users with barrier-free trading experience. Our innovative social copy trading system connects you with professional strategies, while open API supports customized q
Download for Android Download for IOS
GameStop shares tumbled 【11%】 on May 28 after the video game retailer revealed its acquisition of 4,710 Bitcoin worth approximately $513 million. The stock closed at $31.21 on the NYSE, marking a classic "sell-the-news" response from investors.
The selloff wasn't isolated to GameStop. Trump Media and Technology Group (TMTG) saw its shares drop 【24%】 after announcing a $2.5 billion capital raise for Bitcoin purchases. Both cases demonstrate market skepticism about corporate cryptocurrency strategies.
GameStop had signaled its Bitcoin treasury plans back in March, following months of speculation. The company joins a growing list of firms using cryptocurrency as a hedge against fiat currency inflation. ——"Bitcoin's portability and verifiability give it unique advantages over gold,"—— CEO Ryan Cohen stated at the Bitcoin 2025 conference.
Cohen highlighted key differences between the two assets:
• Bitcoin's $2 trillion market cap vs. gold's $20 trillion
• Instant global transferability vs. physical storage challenges
• Blockchain verification vs. insurance requirements for bullion
The CEO also noted Bitcoin's scarcity and technological advantages as decisive factors.
While GameStop's move reflects broader corporate interest in digital assets, the market reaction suggests investors remain wary. The simultaneous drops in GameStop and TMTG shares indicate potential concerns about:
• Volatility risks in cryptocurrency holdings
• Opportunity costs of large-scale Bitcoin investments
• Execution challenges in treasury management
Despite the short-term selloff, GameStop's strategy aligns with growing institutional adoption of Bitcoin. As of press time, Bitcoin maintains a 【$2 trillion】 market valuation, with proponents arguing its monetization potential remains in early stages compared to traditional stores of value.