GameStop’s Bitcoin Hoard: 34,000 BTC or Just Market Hype?

Rumors swirl as GameStop’s crypto strategy takes center stage—did the meme-stock king quietly amass a 34,000 BTC war chest?

Subheader: The Crypto Plot Thickens

While Wall Street analysts debate whether GameStop’s alleged Bitcoin stash is a masterstroke or pure fiction, one thing’s clear: the line between meme stocks and crypto just got blurrier. If true, those 34,000 coins would make traditional hedge funds look like cautious grandmas.

Subheader: Diamond Hands Meet Digital Gold

The gaming retailer turned market disruptor hasn’t confirmed the holdings—but in today’s financial circus, absence of denial often fuels the frenzy. Meanwhile, Bitcoin maximalists cheer while short-sellers sweat.

Closing jab: Nothing boosts a company’s valuation like speculative crypto rumors—except maybe printing ’blockchain’ in a 10-K filing.

Another crypto influencer, The bitcoin Therapist, suggested GameStop might announce its Bitcoin purchase only after Bitcoin hits new all-time highs. GameStop initially announced on March 25, 2025, that its board approved updating the company’s investment policy to include Bitcoin as a treasury reserve asset.

The move was identified as a strategy to diversify GameStop’s capital by adding the cryptocurrency to its assets. It was led by CEO Ryan Cohen, who has been guiding the company through a major transformation. 

So far, there is no official confirmation that the wallet with 34,000 BTC belongs to GameStop. The company has not released any filings or statements linking them directly to this address. However, the timing of the wallet and the time the Bitcoin was purchased does raise curiosity as it was shortly after the March 25th announcement. 

Meanwhile, GameStop reported a 3.44% increase in its cash holdings during the fourth quarter. It closed the quarter with $4.775 billion in cash, cash equivalents, and marketable securities. This was up from $4.616 billion in the third quarter.

Its decision to add Bitcoin to its treasury was after earlier speculation when Cohen posed with BTC advocate Michael Saylor in February 2025. However, it is not confirmed if GameStop really purchased the asset or if the wallet Akamatsu shared is indeed linked to the retail company. Also, if it does hold Bitcoin, there’s no surety that it’s HODLing 34,000 BTC ss the actual number can vary upon official declaration.

Also Read: Ripple Bids $11B XRP, Cash on Circle to Beat Coinbase: Fact Check