On May 28, 2025, GameStop, the renowned U.S. retailer specializing in video games and electronics, made headlines with its first major cryptocurrency acquisition. The company revealed it had purchased 4,710 BTC, marking a significant strategic shift for the traditional retail giant.
This move wasn't entirely unexpected for those following GameStop's evolving strategy. As detailed in GameStop's First Bitcoin Purchase: 4,710 BTC Acquisition, the company had been laying the groundwork for this transition since earlier in the year.
The cryptocurrency strategy was initially proposed in February by Matt Cole, CEO of Strive Asset Management. Cole had argued that holding Bitcoin could position GameStop as a frontrunner in the emerging tech-centric market, potentially offering the company new growth opportunities beyond its traditional retail operations.
By March, GameStop had confirmed its intentions to create a Bitcoin reserve, publicly highlighting the potential financial stability and growth advantages such a move could provide. The announcement came after careful consideration of both the opportunities and risks associated with cryptocurrency investments.
Despite early concerns about Bitcoin's characteristic price volatility, liquidity challenges, and ongoing regulatory uncertainty, the company moved forward with its plan. This decision was facilitated by GameStop's successful securing of $1.5 billion in bonds in early April, which provided the necessary capital for its first major crypto transaction.
Media outlets had speculated about GameStop's potential cryptocurrency move since February, when the first rumors surfaced. However, it wasn't until late May that these speculations became reality, marking a new chapter in the company's ongoing transformation and adaptation to the digital economy.