On May 28, 2025, the video game retail giant and 'meme stock' GameStop announced the purchase of 4,710 BTC, worth $512 million, to establish a corporate Bitcoin reserve, marking a turning point in the USA. This deal was announced at the Bitcoin Conference 2025 in Las Vegas, inspired by MicroStrategy and promising to reshape the future of GameStop. The article summarizes the details of the deal, the context, market impact, and lessons for investors.

Details of the deal

GameStop completed the purchase of 4,710 $BTC after raising $1.5 billion from a convertible bond issuance in early April 2025. The goal is to establish a Bitcoin reserve, as previously announced, to address economic risks and inflation. The deal was made public through an official tweet, but GameStop has not responded to requests for comment from Decrypt. At the Bitcoin Conference 2025, CEO Ryan Cohen emphasized: 'Bitcoin and gold are hedges against global currency devaluation and systemic risk.' He declined to disclose plans for additional purchases, asserting that GameStop is not copying anyone's strategy, including MicroStrategy.

Inspired by MicroStrategy, a company that increased its market capitalization from a mid-sized software business to $101.76 billion by holding 252,220 BTC (TradingView), #gamestop hoping to replicate similar success. From a company that suffered heavy losses in 2021, GameStop is transitioning from physical game retail to a digital finance model, leveraging Bitcoin as a strategic asset.

Context and corporate trends

GameStop became famous in 2021 during the 'meme stock craze,' when individual investors, led by Keith Gill (Roaring Kitty), pushed GME stock prices to soar through a short squeeze on Reddit. GME continues to fluctuate according to social media hype, having once doubled in a single day after Roaring Kitty's post (5/2024). Cohen admitted that when he joined in 2021, GameStop was a 'dismal company, suffering significant losses,' but is now restructuring with Bitcoin at its core.

GameStop is not alone. Companies like Marathon Digital, Riot Platforms, and CleanSpark hold billions of USD in Bitcoin, while Tesla owns $1.25 billion in BTC (12/2024). Besides Bitcoin, SharpLink Gaming raised $425 million to buy Ethereum (5/27/2025), indicating a trend towards diversifying corporate reserves. According to BitcoinTreasuries.NET, organizations globally hold 2.4 million BTC, accounting for 11% of the supply.

Impact on the crypto market

GameStop's deal reinforces confidence in Bitcoin, with 2.5 million crypto users in the USA trading $1.2 billion/quarter (Chainalysis, 2024). The price of Bitcoin recently peaked at $112,000 (5/2025), and TradingShot forecasts it will reach $150,000 by Q4/2025, thanks to capital inflows from ETFs and corporations. GME stock could benefit from Bitcoin hype, but the volatility of meme stocks remains a risk. Glassnode warns that BTC prices could adjust 10–15% in the short term due to FOMO sentiment.

Risks to note

Price volatility: Bitcoin and GME are susceptible to fluctuations due to hype and market sentiment.

Business risks: GameStop relies on restructuring; if it fails, the Bitcoin reserve may not be sufficient to salvage it.

Security: Hacks of custodial wallets can cause significant damage ($1.2 billion hack in 2024, CertiK).

Regulation: Crypto policies in the USA may change, affecting long-term strategies.

Risk warning

Investing in Bitcoin and GME carries high risks due to price volatility, FOMO, and hacks. Investors need to protect their wallets from misconduct like phishing and conduct thorough research (DYOR). The information in the article is for reference only and not investment advice. #anhbacong