GameStop Doubles Down on Bitcoin with $500M+ Mega-Purchase

Retail’s favorite meme stock just went full crypto degen—snagging 4,710 BTC in a single swing. That’s hedge-fund levels of conviction from a company that still sells Funko Pops.

Wall Street analysts are already sharpening their knives: ’Nothing fixes a dying brick-and-mortar model like speculative digital assets,’ quipped one Bloomberg terminal jockey.

The move rockets GameStop into the top 10 corporate BTC holdings—right between Michael Saylor’s coffee breaks and El Salvador’s national treasury. Talk about main-character energy.

GameStop CEO Ryan Cohen Follows In Michael Saylor’s Footsteps

The market reacted positively as GameStop shares surged 4.3% in premarket trading. Currently GME is trading at $36.52.

GameStop CEO Ryan Cohen is known to be a pro-Bitcoin head. Following in the footsteps of Strategy’s Michael Saylor, Cohen also shared a picture with him in February 2025.

Saylor bought billions worth of BTC. The most recent update, on 1 May 2025, is that Saylor has acquired 15,355 Bitcoins worth over $1.4 billion.

Strategy is likely to continue buying more BTC, funded through a mix of Class A and Series A preferred share offerings. With over 553,000 BTC under control, Strategy’s purchase underscores its strong conviction in Bitcoin and belief that it will rally in the coming years.

NEW: Michael Saylor met with GameStop CEO Ryan Cohen last night#Bitcoin pic.twitter.com/YkSDDXBNJ7

— Bitcoin Magazine (@BitcoinMagazine) February 8, 2025

GAMESTOP CEO RYAN COHEN: “I like looking where no one else is. That’s where the best opportunities are.”

And you still think he’s not stacking Bitcoin?pic.twitter.com/43axRAf4J5

— Simply Bitcoin (@SimplyBitcoinTV) May 22, 2025

Key Takeaways

• GameStop confirmed the purchase of 4710 Bitcoins worth over half a billion, through a post on X,

• The market reacted positively as GameStop shares surged 4.3% in premarket trading. Currently GME is trading at $36.52.