GameStop buys bitcoin worth $513 million in crypto push — TradingView News
GameStop GME has purchased bitcoin worth about $513 million, the company said on Wednesday as the ailing video game retailer looks to capitalize on the growing adoption of cryptocurrencies globally.
GameStop said in a filing it acquired 4,710 bitcoins, although it did not disclose the period for the purchases. The world’s largest cryptocurrency was trading down 0.7% at $108,903 by 7 a.m. ET.
The purchases are GameStop’s first bitcoin purchase since unveiling its plans in March to invest in the digital asset, adopting a strategy pioneered by Michael Saylor’s Strategy MSTR, an enterprise software company and the largest corporate holder of bitcoin.
Strategy’s stock has seen significant gains alongside the rising price of bitcoin,…