{"id":53432,"date":"2025-05-31T08:03:59","date_gmt":"2025-05-31T08:03:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/gamestop-buys-4710-btc-for-its-treasury\/"},"modified":"2025-05-31T08:03:59","modified_gmt":"2025-05-31T08:03:59","slug":"gamestop-buys-4710-btc-for-its-treasury","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/gamestop-buys-4710-btc-for-its-treasury\/","title":{"rendered":"GameStop Buys 4,710 BTC for its Treasury"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>GameStop has made its biggest move yet into crypto. The company bought 4,710 bitcoins, investing $513 million as part of a shift toward digital assets. The purchase was funded through a recent $1.3 billion convertible bond sale, marking a new direction for the video game retailer.<\/p>\n<hr\/>\n<p><em><strong>Good to know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>GameStop used funds from a $1.3 billion bond sale to buy <a href=\"https:\/\/igaming.org\/cryptocurrencies\/section\/what-is-a-bitcoin\/\">Bitcoin<\/a>.<\/strong><\/em><\/li>\n<li><em><strong>The company had previously shut down its NFT marketplace in early 2024.<\/strong><\/em><\/li>\n<li><em><strong>Market reaction to the crypto investment has been mixed so far.<\/strong><\/em><\/li>\n<\/ul>\n<hr\/>\n<p>The board of directors approved a change to the company\u2019s investment policy in <strong><a href=\"https:\/\/igaming.org\/crypto\/gamestop-embraces-bitcoin-as-a-treasury-reserve-asset\/\">March<\/a><\/strong>, allowing Bitcoin to be held on the balance sheet. That decision followed growing speculation about crypto pivot, especially after CEO Ryan Cohen was seen with MicroStrategy\u2019s Michael Saylor. A month earlier, we already <strong><a href=\"https:\/\/igaming.org\/crypto\/gamestop-reportedly-considering-bitcoin-investment-during-market-speculation\/\">reported<\/a> <\/strong>on rumors that the gaming company was about to buy Bitcoin.<\/p>\n<p>The move brings GameStop into the group of public companies holding Bitcoin as a reserve asset, joining names like Strategy, which has <strong><a href=\"https:\/\/igaming.org\/crypto\/strategy-adds-7390-btc-but-faces-a-class-action-lawsuit\/\">accumulated<\/a> <\/strong>over 580,000 BTC.<\/p>\n<p>After the announcement, GameStop\u2019s stock initially jumped by 4.5% in pre-market trading. But by the end of the day, shares fell by over 10%. That echoed what happened earlier in March, when news of the bond sale and crypto plans first broke, sending the stock down 25%.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2>Past Efforts in Crypto and Web3<\/h2>\n<p>GameStop\u2019s crypto history goes beyond Bitcoin. In 2022, the company <strong><a href=\"https:\/\/igaming.org\/crypto\/gamestop-nft-marketplace-opens-strong-smashes-coinbase\/\">launched<\/a> <\/strong>an NFT marketplace on Immutable X, focused on gaming collectibles, and in fact it was pretty successful upon launch. That project <strong><a href=\"https:\/\/igaming.org\/crypto\/gamestop-retreats-from-crypto-shuts-nft-market\/\">ended<\/a> <\/strong>in early 2024 due to what the company described as \u201cregulatory uncertainty.\u201d<\/p>\n<p>Earlier, GameStop also worked with the Telos Foundation on blockchain gaming. It even explored issuing NFT-based dividends, proposing a model of one NFT per share to bridge traditional finance with digital assets. The idea never fully materialized but highlighted the company\u2019s early push into Web3.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/gamestop-buys-513-million-in-bitcoin-after-bond-sale\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) GameStop has made its biggest move yet into crypto. The company bought 4,710 bitcoins, investing $513 million as part of a shift toward digital assets. The purchase was funded through a recent $1.3 billion convertible bond sale, marking a new direction for the video game retailer. [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":53433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/53432"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=53432"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/53432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/53433"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=53432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=53432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=53432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}