GameStop Goes Full Degen: Drops $200M+ on Bitcoin Treasury Bet

Wall Street''s favorite meme stock just moonwalked into crypto—hard. The retail-trader-empire scooped up 4,710 BTC, flipping the bird to traditional corporate cash management.

Because nothing says ''prudent fiscal strategy'' like ape-ing into volatile digital assets, right? At least they didn''t YOLO into Shiba Inu.

One thing''s clear: the line between ''treasury management'' and ''degenerate gambling'' just got blurrier. Thanks, Fed policies.

Still, the company showed signs of improvement. Operating margin rose from -5.7% to -1.5% year-over-year, and free cash FLOW turned positive at $189.6 million.

Despite these gains, GameStop’s stock fell over 4% in extended trading on June 10 due to the revenue miss. The company remains under pressure from the shift toward digital gaming and streaming, but it’s clearly betting big on diversification.

GameStop’s bitcoin move mirrors companies like Strategy, which have added BTC to their balance sheets. The retailer updated its investment policy earlier this year, officially recognizing Bitcoin as a treasury reserve asset.

In a related development, Bitwise launched the GME Option Income Strategy ETF (IGME), designed to reflect GameStop’s crypto pivot. The ETF uses a covered call strategy to capture income from GME’s stock volatility, while offering exposure to its Bitcoin holdings.

Jeff Park of Bitwise said IGME targets investors who see GameStop not just as a gaming stock, but a bold crypto play. With this strategic Bitcoin bet, GameStop is trying to reshape its future  and investors are watching closely.

Also Read: CEO Ryan Cohen Speaks on GameStop’s Latest Bitcoin Purchase