GameStop has made its first big move into Bitcoin by buying about 4,710 BTC worth $513 million. This shows the video game retailer’s plan to use Bitcoin as part of its treasury reserve.
GameStop’s board approved the Bitcoin purchase earlier this year. The company said it will use some of its cash or money from future loans or stock sales to buy Bitcoin, but it did not say how much it might buy in total.
This step follows a trend among big companies adding Bitcoin to their reserves. Strategy (formerly MicroStrategy) bought 4,020 BTC this week and now holds over 580,000 BTC. Brazil’s Méliuz and Tether also recently added large amounts of Bitcoin.
Even U.S. states are joining in. Texas created a Bitcoin reserve fund, and New Hampshire approved a law allowing it to hold Bitcoin in its treasury.
Trump Media also plans to raise $2.5 billion to buy Bitcoin, using methods like stock sales and debt, similar to Strategy’s approach.
GameStop’s move highlights growing trust in Bitcoin as a valuable asset for companies and governments.
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