Over time, GameStop’s image has evolved significantly, with the company increasingly focusing on the realm of cryptocurrency and blockchain technology. Most recently, the corporation has taken a significant step forward by investing in this sector of the tech industry, as they have bought approximately 4,710 Bitcoins.
Last night, GameStop officially announced their acquisition of Bitcoin, investing over $500 million according to the value at the time. In a video release, CEO Ryan Cohen elaborated on this decision. He suggested that Bitcoin could function as a protective measure against global currency devaluation and financial instability. Furthermore, he expressed his belief that Bitcoin has the capacity to evolve into “digital gold.
GameStop CEO Ryan Cohen discusses Bitcoin acquisition
— GameStop (@gamestop) May 28, 2025
The action caused both GameStop’s (GME) share price and Bitcoin’s (BTC) worth to decrease steadily. The value of GameStop shares dipped to $30.88 from an opening of $35.75 during the day. Meanwhile, Bitcoin sank as low as $107,183 on that specific day.
Regarding the question of whether GameStop intends to purchase more Bitcoin down the line, Ryan Cohen has not provided a clear response. Instead, he emphasized that GameStop will stick to its own strategic approach, and recommended other prospective buyers to do the same, basing their decisions on their individual investment theories.
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2025-05-28 21:28