Gamestop has taken a daring step in the crypto space and confirms that it has bought 4,710 Bitcoin, according to a 28 May rack.
According to data from Bitcoin Treasuries, this relocation places GameStop at the top 13 of the public companies holding Bitcoin, which exceed other participants such as Semler Scientific.
Google Finance facts shows the shares of the company that has climbed around 3% in the American pre-market trade after the news.
Gamestop buys Bitcoin
This first purchase is in line with plans that will be revealed in March, when Gamestop said it was planning to diversify his assets by Bitcoin exposure. At the time, the company had more than $ 4.5 billion in cash, kasequivalents and tradable effects.
Although the VideoGame retailer established in the US has not announced the purchase date or average admission price, the current value of the holdings is almost $ 513 million.
Gamestop still has to respond CryptoSlate’s Request for comments from the moment of press.
However, the crypto community has called for the company to go beyond the possession. They have advised the company to run a Bitcoin node and to publish a proof-of-reserves to demonstrate his dedication to the best crypto.
Their opinion is not surprising, because Gamestop is not a typical company buyer.
The company shot to Global Fame in 2021 during a historic short squeeze fed by Reddit traders. Retail investors, frustrated by the Bearish bets of Wall Street, stepped up in GME shares and sent it from less than $ 20 to more than $ 500 at its peak.
The episode caused losses of millions of dollars for hedge funds and marked a cultural shift in market trends.
Public companies increase the exposure to Bitcoin
With this purchase, Gamestop accepts a growing list of companies that turn to Bitcoin as a strategic possession. Market analysts are of the opinion that this trend can play a key role in pushing Bitcoin to new highlights.
A recent report from the worldwide Brokerage Bernstein projects that business treasury can allocate to $ 330 billion to Bitcoin by 2029. The analysis also suggests that small companies with limited organic growth opportunities in traditional markets can investigate alternative reserve strategies to remain relevant and competitive.
The industry has already witnessed an influx of new companies that connect Bitcoin for relevance. Together, the top 85 business holders now check more than 804,000 BTC, according to Hodl15Capital.
MicroStrategy, now renamed strategy, remains the dominant player in this space and from May 2025 will hold more than 580,000 BTC.
