GameStop Surges into the Top 15 Bitcoin Holders After Acquiring 4,710 BTC

GameStop has made a significant move in the cryptocurrency market by acquiring 4,710 Bitcoin, as announced on May 28.

Data from Bitcoin Treasuries indicates that this acquisition places GameStop among the top 13 publicly traded companies with Bitcoin holdings, outpacing competitors like Semler Scientific.

Following this announcement, Google Finance reported that the company’s stock experienced a roughly 3% increase during US pre-market trading.

This initial investment aligns with plans disclosed earlier in March, when GameStop expressed its intention to broaden its asset portfolio to include Bitcoin. At that time, the company reported over $4.5 billion in cash, cash equivalents, and marketable securities.

While the specifics of the purchase date and average entry price were not revealed, the current valuation of these Bitcoin holdings is approximately $513 million.

As of the latest updates, GameStop has not yet replied to inquiries regarding this development.

However, there are voices within the cryptocurrency community urging the company to take further action beyond merely holding the asset. They suggest that GameStop should operate a Bitcoin node and provide proof-of-reserves to affirm its dedication to the leading cryptocurrency.

This perspective is not unexpected given that GameStop’s approach to investment is distinct from that of traditional corporations.

The company rose to worldwide prominence in 2021 during a momentous short squeeze driven by Reddit users. Individual investors, reacting against Wall Street’s negative position, flocked to GME shares, causing prices to surge from under $20 to over $500 at its peak.

This event resulted in significant financial losses for hedge funds and signaled a change in market dynamics.

With this acquisition, GameStop is part of a growing trend of businesses adopting Bitcoin as a strategic asset. Analysts believe this could be crucial for driving Bitcoin to unprecedented levels.

A recent analysis from global brokerage Bernstein suggests that corporate treasuries may allocate as much as $330 billion to Bitcoin by 2029. The report also notes that smaller companies with limited growth opportunities in traditional markets might consider alternative reserve strategies to remain competitive.

The sector has already seen a surge of new companies embracing Bitcoin for relevance, with the leading 85 corporate holders collectively now owning over 804,000 BTC, based on data from Hodl15Capital.

MicroStrategy, now rebranded as Strategy, continues to lead in this arena, maintaining a holding of more than 580,000 BTC as of May 2025.