GameStop buys 4,710 BTC, now ranks 13th among public Bitcoin holders.
GME stock jumps 4% pre-market after treasury crypto reveal.
Bitcoin holdings estimated at $512M; strategy mirrors MicroStrategy.
GameStop acquired 4,710 Bitcoins in accordance with its public plan to enhance its corporate treasury with digital assets. The stock price of the company went up more than 4% during pre-market trading following the announcement. This move follows two months after GameStop revealed its intent to adopt Bitcoin as a treasury reserve asset.
Bitcoin Strategy Confirmed with Large Treasury Purchase
According to the official press release, GameStop completed the purchase without disclosing the average acquisition price. Market analysts estimate the current value of the Bitcoin holding to be near $512 million based on prevailing prices. The 8-K filing submitted to the US Securities and Exchange Commission also omits pricing details. Still, the scale of the acquisition indicates that the company has begun executing its digital asset reserve strategy in earnest.
GameStop revealed its strategy to secure $1.3 billion for its Bitcoin initiative in March. GameStop’s decision to hold Bitcoin as a primary reserve asset resembles MicroStrategy's strategy which has experienced substantial returns on its Bitcoin investments. GameStop has become one of the top public companies with substantial crypto reserves through its strategic Bitcoin partnership.
GME Stock Sees Immediate Market Reaction
The stock market responded promptly to the news. Following the announcement GameStop saw an increase of over 4% in its stock price which climbed toward $36 per share during pre-market trading. The recent stock price rise contributes to the company's strong performance since the start of the year as its stock value has increased by over 11% currently and more than 64% throughout the previous twelve months.
The recent movement also aligns with prior trends involving social media-driven attention. Earlier this year, GameStop shares experienced renewed interest after a post by Keith Gill, popularly known as Roaring Kitty, altered market sentiment. Now, the integration of Bitcoin into the company’s strategy appears to have generated similar enthusiasm among retail investors and traders.
GameStop Enters List of Top Public Bitcoin Holders
Following this acquisition, GameStop now ranks as the 13th largest public holder of Bitcoin. The company has surpassed Semler Scientific, which holds 4,264 BTC. This milestone indicates the retailer’s strong commitment to integrating digital assets into its financial planning.
Moreover, analysts believe the exposure to Bitcoin could influence the company’s financial outlook and attract further attention from investors aligned with digital asset adoption. The move is also being watched closely by the broader financial community as more public companies explore similar treasury strategies.
With the current pace of development, GameStop’s presence in the digital asset space is expected to evolve further. This will reinforce its position in the growing list of corporations integrating Bitcoin into their financial operations.
