GameStop Purchases Over $500M Worth of Bitcoin

May 28, 2025

in Breaking, News

Reading Time: 7 mins read

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By Jamie Crawley|Edited by Aoyon Ashraf

Updated May 28, 2025, 5:17 p.m. Published May 28, 2025, 11:25 a.m.

Video game retailer GameStop has purchased 4,710 bitcoin, worth nearly $513 million at the time of writing.
GameStop revealed its plans to pursue a bitcoin treasury strategy in March, offering $1.3 billion in debt to raise the funds for BTC acquisition.

Video game retailer GameStop (GME) has purchased 4,710 bitcoin, worth nearly $513 million at the time of writing.

GameStop announced the purchase on X on Wednesday but did not offer further details about when the BTC were acquired or the price paid.

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The Grapevine, Texas-based company revealed its plans to pursue a bitcoin treasury strategy in March, offering $1.3 billion in debt to raise the funds for BTC acquisition.

The shares of GME rose as much as 6.6% in U.S. pre-market trading on the news, but the stock promptly dumped in early trading, falling around 10% to about $31.50. With GameStop’s BTC purchase rumored to be imminent for several weeks, the GME slide may be a “sell the news” event.

The selloff may haver been exacerbated by a dip in BTC’s price which fell from around $109,000 to around $107,300 during the ET morning.

UPDATE (May 28, 15:25 UTC): Adds additional info and context on GME’s price movement.

Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.