GameStop has recently caused a stir with a radical change in strategy: After becoming known as a “meme stock” thanks to the spectacular rally in 2021, the company is now betting on Bitcoin as part of its new financial strategy. The question of whether GameStop is secretly buying Bitcoin can be clearly answered – the company has not only announced it but has also implemented it.
Overview of GameStop’s Bitcoin Strategy
Bitcoin Purchase Officially Confirmed
GameStop announced on May 28, 2025, that it had acquired a total of 4,710 Bitcoins – a volume of over 500 million US dollars at the time’s rate. This step is part of a larger plan to diversify the company’s reserves and optimize investment returns. The purchases took place between May 3 and June 10, 2025, funded by cash.
Financing Measures: Convertible Bonds and Capital Increase
To finance this investment, GameStop had already announced in March that it would raise up to 1.3 billion US dollars through the issuance of convertible notes. In April, there was a private capital increase of around 1.5 billion US dollars – funds that, according to company information, were explicitly intended for the acquisition of Bitcoin. In total, approximately 1.75 billion US dollars of fresh capital was raised.
Market Reactions
The announcement of the strategic shift led to a double-digit drop in the stock price: After a brief price spike in pre-market trading, the stock fell by about ten percent on the day of the announcement; overall, reports indicated a decline of up to around twenty percent within a few days. This reflects the skepticism of many investors – especially given the historical volatility of cryptocurrencies and ongoing challenges in the core business (declining sales in video game retail).
Comparison with MicroStrategy
MicroStrategy is considered a pioneer in corporate investments in Bitcoin and now holds several billion dollars in BTC in its reserves. GameStop appears to be deliberately following this example: Both companies use borrowed capital (convertible notes) as well as equity increases to finance their Bitcoin purchases.
| Feature | MicroStrategy | GameStop |
|---|---|---|
| Main Business | Business Intelligence | Video Game Retail |
| Initial BTC Investment | August 2020 | May/June 2025 |
| Financing Method | Convertible Bonds | Convertible Bonds & Capital Increase |
| Market Reaction | Skeptical at First | Significant Price Drop |
Significance for Investors
This step is significant for investors:
- Risk: The high volatility of cryptocurrencies can directly affect the company’s value.
- Strategic Shift: The focus is shifting from traditional retail to digital assets.
- Liquidity: The company is securing short-term liquidity through new debt and equity measures.
- Future Perspective: It remains to be seen whether this step will have long-term positive effects on profitability or market value.
Conclusion
GameStop is not secretly buying Bitcoin – but doing so quite officially and transparently. With clear communication to shareholders, the company is investing a significant portion of its freshly raised funds in digital assets, following the example of MicroStrategy.