GameStop Just Bought Half a Billion Dollars in Bitcoin

Gamestop Just Bought Half A Billion Dollars In Bitcoin

Yep, you read that right.

GameStop just hit CTRL+ALT+CRYPTO.

The company that once lit up Wall Street like a Reddit-fueled bonfire is diving headfirst into Bitcoin. As in — $513 million worth of it. Real money. Real crypto. Real fast.

The announcement dropped today and set finance Twitter ablaze. According to Bitcoin Magazine, GameStop scooped up 4,710 bitcoins, betting big on digital gold as part of a new corporate strategy. The move immediately sent shockwaves through markets — and raised eyebrows everywhere from Wall Street to your cousin who never sold his Dogecoin.

Why now? Good question.

GameStop’s no stranger to bold moves. After all, this is the same company that turned meme magic into market mayhem back in 2021. But lately, it’s been trying to reinvent itself again — leaning away from NFTs and digital wallets (which it quietly axed last year) and now, apparently, into Bitcoin.

This shift isn’t just for headlines. It’s a full-on pivot.

“This strategic investment reflects our belief in Bitcoin as a store of value and potential hedge against inflation,” a GameStop spokesperson told Yahoo Finance.

Still, investors weren’t entirely convinced. GameStop stock (GME) soared in early pre-market trading but then dipped more than 3% by the afternoon. Volatility, thy name is meme stock.

Some market watchers are calling this a gamble, others see it as a long-overdue move to modernize. Either way, it’s bold. And pure GameStop energy.

As of writing, Bitcoin is hovering around $108,300. That puts GameStop’s bag pretty close to the value of a small country’s GDP — or one Marvel movie’s global box office.

Whether this play pays off remains to be seen. But for now, one thing’s clear:

GameStop isn’t done surprising us.