GameStop (GME), the video game retailer turned meme-stock phenomenon, has made a bold leap into cryptocurrency, purchasing $513 million worth of Bitcoin. According to a recent filing, the company acquired 4,710 BTC, though it did not specify the exact timeframe for the purchases. This marks GameStop’s first major crypto move since announcing its digital asset strategy in March, following in the footsteps of Michael Saylor’s MicroStrategy, the largest corporate holder of Bitcoin.

The news comes as Bitcoin trades at $108,903, down 0.7% at the time of the announcement. GameStop’s stock, however, saw an immediate 4.4% pre-market surge, signaling investor optimism about the company’s pivot toward crypto.

Why Is GameStop Buying Bitcoin Now?

GameStop’s decision to allocate over half a billion dollars to Bitcoin reflects a broader corporate trend of diversifying treasury reserves into digital assets. With $4.78 billion in cash and marketable securities as of February 1, the company is leveraging its strong balance sheet to hedge against inflation and capitalize on Bitcoin’s long-term growth potential.

This strategy mirrors that of MicroStrategy, which has seen its stock price soar alongside Bitcoin’s rally. By holding BTC on its balance sheet, GameStop may attract a new wave of investors looking for indirect crypto exposure without buying Bitcoin directly.

For a company struggling to revive its brick-and-mortar retail business, this move could also serve as a lifeline to reinvigorate shareholder interest. GameStop was at the heart of the 2021 meme-stock frenzy, driven by retail traders on Reddit’s WallStreetBets. Now, it appears to be embracing another internet-fueled asset class—cryptocurrency.

The Bigger Trend: Corporations Betting on Bitcoin

GameStop isn’t alone in its crypto ambitions. Just a day before its announcement, Trump Media & Technology Group (DJT), the social media company tied to former President Donald Trump, revealed plans to raise $2.5 billion for Bitcoin purchases. This signals a growing acceptance of Bitcoin as a legitimate treasury asset among corporations, beyond just tech and finance firms.

Other major companies holding Bitcoin include:

• MicroStrategy (MSTR): 214,400 BTC (~$23 billion)

• Tesla (TSLA): 10,800 BTC (~$1.2 billion)

• Square (Block, SQ): 8,027 BTC (~$875 million)

As institutional adoption grows, Bitcoin is increasingly viewed as “digital gold”—a store of value in uncertain economic climates. GameStop’s entry into this space could further legitimize crypto investments in the eyes of traditional investors.

What This Means for GameStop’s Future

While the Bitcoin purchase is a strategic move, it also raises questions:

• Will GameStop continue accumulating BTC? (MicroStrategy buys monthly—will GME follow?)

• Could this lead to crypto-related products or services? (NFTs, blockchain gaming integrations?)

• How will regulators react? The SEC has been skeptical of corporate Bitcoin holdings.

GameStop’s stock remains highly volatile, and this crypto bet could either reignite its meme-stock momentum or expose it to Bitcoin’s notorious price swings. Either way, the company is making it clear: it’s no longer just a video game retailer—it’s now a player in the crypto economy.