GameStop Buys Over $500 Million Worth of Bitcoin, Will New Treasury Strategy Help Boost GME Stock?

GameStop (GME) has entered the cryptocurrency arena with a significant investment, acquiring 4,710 Bitcoin worth approximately $512.6 million as of May 28. The purchase, officially disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission, marks the company’s first foray into Bitcoin and aligns with a broader strategy to diversify its balance sheet.The investment follows the company board’s approval in March to adopt Bitcoin as a treasury reserve asset. GameStop raised $1.5 billion through convertible notes in April to support this initiative. With Bitcoin trading near $109,080 on the day of the announcement, the acquisition reflects confidence in the asset’s potential amid global financial uncertainty and growing institutional interest.The move mirrors the playbook pioneered by Strategy (MSTR), which has accumulated 580,250 BTC—approximately 2.7% of Bitcoin’s maximum supply of 21 million. Strategy’s aggressive Bitcoin strategy has driven volatility but also attracted investors seeking crypto exposure without directly purchasing digital assets.GameStop’s CEO Ryan Cohen, who has spearheaded efforts to revitalize the legacy retailer, views the Bitcoin acquisition as part of a broader turnaround plan focused on financial optimization and operational efficiency. The company reported $4.78 billion in cash and equivalents as of February 1, underscoring its capacity to support large-scale strategic investments.Shares of GameStop are down 2.2% following the news, falling from $35.78 at market open to $34.26 at the time of writing.GameStop certainly isn’t alone in betting on Bitcoin. Trump Media and Technology Group Corp (DJT) announced Tuesday that it had secured $2.5 billion in funding through a private placement with approximately 50 institutional investors. The raise includes $1.5 billion in common stock and $1.0 billion in zero-coupon convertible senior secured notes.The proceeds will be used to establish one of the largest Bitcoin treasuries held by a public company. Trump Media CEO Devin Nunes described Bitcoin as an “apex instrument of financial freedom” and framed the move as a safeguard against financial censorship. The firm aims to integrate Bitcoin into its broader ecosystem, which includes subscription payments and future tokenized platforms.As of Q1 2025, Trump Media held $759 million in liquid assets. The new capital will be added to these reserves, strengthening the company’s position as it transitions into a holding structure aligned with what it calls “America First” economic values.With over 210 companies now holding Bitcoin on their balance sheets, the trend signals increasing corporate adoption of digital assets as long-term strategic reserves. GameStop’s entry into the space marks another milestone in this growing narrative, which is one of the main reasons underpinning the bullish case for Bitcoin in 2025.Currently, the algorithmic Bitcoin price prediction on CoinCodex is forecasting that Bitcoin will hit nearly $180,000 in 2025 before entering a multi-month correction with the price ultimately stabilizing around the $110,000 mark.Get Started on Kraken