GameStop (GME) has just added a massive amount of Bitcoin (BTC) to its balance sheet as a treasury reserve asset.
The video game retailer, which became a viral sensation among traders in 2021, has announced that it has purchased 4,710 Bitcoin, valued at $513.4 million at time of writing.
GameStop is now the 13th largest holder of Bitcoin among publicly-traded companies.
Strategy (formerly known as MicroStrategy) owns the largest Bitcoin corporate treasury in the world, with 580,250 BTC worth more than $62 billion at time of writing.
GameStop’s BTC purchase comes less than two months after its board voted to become a Bitcoin treasury company, as part of the firm’s strategy to use its liquidity to maximize shareholder value.
Said GameStop at the time,
“On March 25, 2025, we announced that, as part of our revisions to the Investment Policy, the Board approved the addition of Bitcoin as a treasury reserve asset, alongside US dollar-denominated stablecoins, to diversify the Company’s investment portfolio… a portion of our cash or future debt and equity issuances may be invested in Bitcoin. We have not set a maximum amount of Bitcoin we may accumulate, and may sell any Bitcoin we may acquire.”
A new report by the crypto asset manager Bitwise shows that publicly-traded companies are increasingly investing in Bitcoin, with collective holdings increasing from 394,131 to 786,857 BTC over the six-month period from November 15th, 2024 to May 15th, 2025.
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