GameStop purchases $500 million in Bitcoin
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GameStop (NYSE:GME) is being closely watched as the company's pivot away from being a pure retailer to being an investment vehicle takes form. CEO Ryan Cohen was interviewed by BTC Inc. following the company's disclosure that it now holds Bitcoin (BTC-USD).
At the 2025 Bitcoin Conference in Las Vegas, in an interview with the CEO of Nakamoto David Bailey, the CEO of GameStop Ryan Cohen announced why the company bought over $505 million in Bitcoin.
As the GameStop brand has transformed over the years, we’ve seen the company make a concerted effort to get into the business of cryptocurrency and blockchain technology. The company’s latest move is a big bet on that sector of the tech world, as GameStop has purchased 4,710 Bitcoin.
GameStop (GME) has become the latest publicly-traded U.S. company to put cryptocurrency on its balance sheet. The video game retailer bought 4,710 Bitcoin, it announced Wednesday morning in a single-sentence press release.