GameStop buys 4,710 bitcoin for corporate treasury: filing

Video game retailer GameStop said Wednesday it acquired 4,710 bitcoin, according to a Form 8-K filing with the U.S. Securities and Exchange Commission. The company did not disclose the total amount spent on the purchase.With bitcoin trading around $109,080 on May 28, according to The Block’s price page, GameStop’s acquisition would be worth an estimated $513 million.The bitcoin buy follows GameStop’s move to diversify its balance sheet. In March, the company’s board approved a policy to adopt bitcoin as a treasury reserve asset. The video game retailer raised $1.5 billion through convertible notes in April to fund the initiative.GameStop now joins the ranks of public companies accumulating bitcoin for corporate reserves, including Strategy and Tokyo-listed Metaplanet. According to data from BitcoinTreasuries.net, more than 210 firms globally hold BTC, with Strategy leading the pack at over 576,000 coins.GameStop’s stock (GME) rose 3% in U.S. pre-market trading after the disclosure, per Yahoo Finance.UpdateDisclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.