5 days ago
GameStop’s 4,710 Bitcoin acquisition marks the archetypal publically announced BTC acquisition by the institution since it disclosed plans to determination into Bitcoin concern successful March.
GameStop, the US video crippled and user electronics retailer, has confirmed its archetypal Bitcoin investment, acquiring 4,710 Bitcoin for $513 million, according to an authoritative connection posted May 28 connected the company’s X account.
The announcement is the archetypal publically acknowledged Bitcoin (BTC) acquisition by GameStop since the institution disclosed plans to determination into Bitcoin investment successful March 2025.
At the time, GameStop said it would money the Bitcoin acquisition done indebtedness financing and launched a $1.3 cardinal convertible notes offering.
The quality comes aft months of speculation that GameStop was exploring alternate assets, including cryptocurrencies. Rumors began circulating successful February.
Source: GameStopShares of GameStop (GME) banal climbed amid the speculation, jumping 12% successful March. The February speculation fueled an 18% spike successful GME banal prices.
According to TradingView, GameStop shares closed astatine $35 connected May 27 and were trading astatine $36.30 successful the pre-market astatine the clip of publication. The banal is up astir 30% successful the past 30 days, with year-to-date gains of astir 10%.
This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.
Magazine: Bitcoin vs. the quantum machine threat: Timeline and solutions (2025–2035)
English (US) 