GameStop Bets Big on Bitcoin: Snaps Up 4,710 BTC in Bold Crypto Play
Wall Street’s favorite meme stock just doubled down on digital gold—proving even legacy traders can’t resist crypto’s siren song.
GameStop’s 4,710 BTC purchase screams ’institutional FOMO’ louder than a Reddit hype thread. The move comes as traditional finance slowly—painfully—admits blockchain isn’t just for drug markets anymore.
Bonus jab: Meanwhile, hedge funds still think ’HODL’ is a typo.
Can Bitcoin save GameStop?
The latest MOVE into Bitcoin appears to be an attempt by GameStop to rescue its struggling business by emulating Michael Saylor’s strategy. Back in February, GameStop CEO Ryan Cohen posted a picture with Saylor, a gesture many traders saw as a signal of the company’s Bitcoin pivot.
For now, the strategy appears to be working. Following the latest $519 billion Bitcoin purchase, GameStop’s stock ROSE 5.99% to $35 per share. Moreover, since first hinting at its Bitcoin pivot in February this year, the stock price rose 40%, from $25, which was its price at the time.
GameStop is just one of the companies that is trying to copy Saylor’s Strategy in an effort to boost its stock valuation. For instance, on May 28, Japanese Metaplanet issued $50 million in bonds to expand its Bitcoin purchases. What is more, just one day earlier, Donald Trump’s TRUMP Media & Technology Group announced plans to acquire $2.5 billion in Bitcoin.
