Key Points
- GameStop bought over $513 million in Bitcoin.
- BTC is trading near $109,000.
GameStop announced the purchase of 4,710 Bitcoin via X. GameStop is a video game retailer that reached the spotlight in 2021 during the meme stock frenzy.
Today, May 28, Bitcoin is trading above $108,000.
GameStop Bought Over $513 Million in Bitcoin
GameStop made the announcement via a post on X, without including any other specific details about the purchase.
GameStop has purchased 4,710 Bitcoin. pic.twitter.com/gGdr0BRrAv
— GameStop (@gamestop) May 28, 2025
In its official BTC buying notes, the company did not disclose the BTC purchase price.
Today, the GameStop share trades above $35, up by almost 2% in the past 24 hours.
GameStop-related digital assets are up following the company’s announcement. GME price spiked by over 15%, and other related cryptos surged as well.
GameStop Announced Bitcoin as its Treasury Reserve Asset in March
Previously, on March 25, 2025, the company announced via an official press release that its board of directors had unanimously approved an update to its investment policy to add Bitcoin as a treasury reserve asset.
Before the event in March, GameStop hinted at a Bitcoin addition to its Treasury Reserve in February when the company’s CEO, Ryan Cohen, shared a photo of himself and Michael Saylor via X, suggesting the upcoming move.
By adding Bitcoin to its Treasury Reserve, GameStop followed the footsteps of Bitcoin-centric company, Strategy₿. The company began buying Bitcoin in August 2020, and on May 26, it revealed its latest BTC acquisition, highlighting that it currently holds 580,250 BTC worth over $63 billion.
Bitcoin Trades Above $108,900
At the moment of writing this article, Bitcoin is trading above $108,900, folowing a drop to $108,300 levels.
On May 22, Bitcoin reached its new ATH above $111,000, supported by several key factors and market optimism. Among these price triggers is also the continued institutional interest in BTC, apart from the retail investments previously announced by GameStop.
Institutional Interest in BTC Continues
On May 27, the US BTC ETFs recorded their 9th consecutive inflow day above $384,8 million. The crypto products have recorded continued inflows since May 14, with the biggest inflow day being on May 22, above $934 million.
As of May 27, BTC ETFs recorded almost $133 billion in total net assets and a cumulative net flow of almost $45 billion, according to SoSoValue data.
