Video game retailer GameStop has purchased 4,710 Bitcoin worth approximately $513 million, marking another major corporate entry into Bitcoin treasury holdings as the trend of companies adding Bitcoin to their balance sheets accelerates in 2025.
The company announced the acquisition via X on Wednesday but did not disclose specific details about when the purchases were made or the average price paid per coin. The move follows GameStop’s March announcement of plans to pursue a Bitcoin treasury strategy, which included a $1.3 billion convertible senior notes offering to fund Bitcoin purchases.
GameStop’s Bitcoin acquisition represents a strategic shift in corporate treasury management, following the playbook established by companies like Strategy.
The purchase comes amid a surge in corporate Bitcoin adoption, with over 50 public companies announcing Bitcoin treasury programs in the first five months of 2025. Recent entrants include 21 Capital, Strive, H100 Group and more.
The announcement pushed GameStop’s shares up 4.4% in pre-market trading, while Bitcoin traded near $108,900. The company reported $4.78 billion in cash and marketable securities as of February 1, suggesting this Bitcoin investment represents approximately 10.7% of its liquid assets.
The move follows similar treasury diversification strategies by other major corporations, including Tesla’s $1.25 billion Bitcoin holding and recent announcements from Trump Media and Technology Group of plans to raise $2.5 billion for Bitcoin purchases.
At press time, Bitcoin trades at $108,900, down 0.68% over the past 24 hours, as the market processes this significant institutional development and its implications for broader corporate adoption of Bitcoin as a treasury asset.
Credit: Source link
