GameStop, the online game retailer as soon as on the heart of a meme inventory frenzy, has disclosed a $515m Bitcoin buy, deepening its pivot towards digital property at a time when its core retail operations proceed to battle.
Between Could 3 and June 10, the corporate acquired 4,710 Bitcoin in money, a transfer that follows a March determination by its board to undertake Bitcoin as a treasury reserve asset.
The announcement got here alongside disappointing first-quarter outcomes that noticed income fall 17% to $732.4m, down from $881.8m a yr earlier. Shares slid 4.6% in after-hours buying and selling.
GameStop Struggles To Catch Up With Digital Gaming Increase
Primarily based in Grapevine, Texas, GameStop has confronted mounting challenges in maintaining tempo with the gaming business’s shift from bodily to digital.
$GME JUST IN
: “GameStop bought 4,710 Bitcoin between Could 3, 2025 and June 10, 2025 for money.”
This implies Bitcoin was not a part of Q1’s stability sheet or earnings. It’ll be acknowledged in Q2 FY2025.
No Bitcoin on the Steadiness Sheet. pic.twitter.com/IEA9X7ZISM— Han Akamatsu 赤松 (@Han_Akamatsu) June 10, 2025
Gross sales in its {hardware} and equipment phase, which incorporates new and pre-owned video games, dropped 32%.
Regardless of efforts to increase its e-commerce presence and digital choices, the corporate has but to offset the continuing decline in brick-and-mortar gross sales meaningfully.
Bitcoin Joins GameStop’s Lengthy-Time period Asset Playbook
This isn’t GameStop’s first crypto experiment. In 2022, it launched a digital pockets geared toward tapping into the Web3 development however shuttered the undertaking a yr later, citing regulatory uncertainty. Its newest foray, nonetheless, positions Bitcoin as a long-term strategic asset. In a press release, GameStop stated it might use a part of its money reserves or proceeds from future debt or fairness gross sales to increase its Bitcoin holdings.
The transfer mirrors the high-profile technique of MicroStrategy, which has famously gathered giant quantities of Bitcoin on its stability sheet. Greater than 80 public corporations have adopted swimsuit, together with Trump Media.
Crypto Pivot Highlights GameStop’s Battle To Evolve
GameStop’s embrace of Bitcoin seems to be each a monetary wager and a sign to its retail investor base, which has traditionally proven robust curiosity in crypto-related performs.
But, the market’s response has been cautious. GameStop’s inventory fell practically 20% within the days following the disclosure, suggesting skepticism amongst buyers. Whereas some view the Bitcoin buy as a distraction from operational headwinds, others see it as a daring try and reposition the corporate as digital-first, even because the broader business transitions to streaming and downloadable content material.
With nationwide retailers shuttering shops and bodily sport gross sales declining, GameStop’s wager on Bitcoin could supply some monetary diversification. Whether or not it could additionally assist reverse its fortunes stays far much less sure.
The put up GameStop Purchased 4,710 Bitcoin in 5 Weeks — What Does the Retailer Stand to Acquire? appeared first on Cryptonews.