GameStop Announces First Bitcoin Acquisition Amid Rising Share Prices

According to Cointelegraph, GameStop, a prominent U.S. video game and consumer electronics retailer, has officially confirmed its initial foray into Bitcoin investment. The company announced the purchase of 4,710 Bitcoin (BTC) in a brief statement shared on X on May 28, marking a significant milestone in its investment strategy. This announcement follows GameStop's earlier disclosure in March 2025, where it revealed plans to venture into Bitcoin investments. At that time, the company indicated its intention to fund the acquisition through debt financing, launching a $1.3 billion convertible notes offering. The decision to invest in Bitcoin comes after months of speculation and reports suggesting GameStop's interest in diversifying into alternative asset classes, including cryptocurrencies, which first emerged in February 2025. The news of GameStop's Bitcoin purchase has had a notable impact on its stock performance. In March, when the company's Bitcoin investment plans were initially reported, GameStop shares experienced a significant surge, increasing by 12%. Earlier speculation regarding Bitcoin investments had already contributed to an 18% rise in the company's stock value. As of May 27, GameStop shares closed at $35, and by the time of publication, they had risen to $36.3 in pre-market trading. Over the past 30 days, the stock has seen an approximate 30% increase, with year-to-date gains of around 10%. This development is part of an ongoing story, and additional details will be provided as they become available. The move by GameStop into Bitcoin investment reflects a broader trend among companies seeking to explore the potential of cryptocurrencies as part of their financial strategies.