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,…

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