GameStop Expands Bitcoin Holdings with 4,710 BTC Purchase

American video game retailer GameStop has announced the acquisition of 4,710 Bitcoin, further solidifying its commitment to cryptocurrency. The company did not disclose additional details about the purchase.

This move follows GameStop's official adoption of Bitcoin as a treasury reserve asset in March. CEO Ryan Cohen had previously hinted at such a strategy, sharing a photo with Michael Saylor, a well-known advocate for corporate Bitcoin adoption.

GameStop's foray into crypto includes a now-defunct crypto wallet launched in 2022, which was shut down due to regulatory uncertainty. Despite this, the company remains a focal point for crypto enthusiasts, given its ties to retail investors and meme stock culture.