On May 28, 2025, GameStop Corp. (NYSE: GME) made a big move into the world of cryptocurrencies by buying 4,710 bitcoins for about $513 million at the time. This investment is GameStop’s first big step into digital assets. In March, the company said it would use Bitcoin as a treasury reserve asset.
The company paid for this big purchase with a $1.5 billion convertible bond offering that closed last month. This change in strategy is meant to help GameStop diversify its financial holdings and keep up with the trend of more and more companies adding cryptocurrencies to their balance sheets.
After this news, GameStop’s stock price changed a lot. During the first hour of trading, shares rose more than 6%, reaching a high of $36.80 before closing at $31.80. This change shows how investors feel about the company’s risky move into the cryptocurrency market.
Institutional investors are paying attention to GameStop’s change in strategy. Deutsche Bank said it bought almost 195,000 more shares in the past three months of 2024, bringing its total holdings to about 214,000 shares worth about $6.7 million. Other big banks, like Vanguard, BlackRock, Morgan Stanley, and Jane Street, are also said to have put more money into GameStop.
Analysts say that GameStop’s stock could keep going up, with possible targets set at $45 and higher, depending on how Bitcoin does and how the market as a whole does. This move puts GameStop in line with other companies that have added Bitcoin to their treasury strategy, which shows that digital assets are becoming more widely accepted in business finance.
GameStop’s big investment in Bitcoin is a big change in its business strategy. More and more companies are adding digital assets to their financial portfolios. The move has its risks because cryptocurrencies can be very volatile, but it also has the potential to make a lot of money and put GameStop at the forefront of a big change in corporate finance.
Also read:
