GameStop Buys 4,710 Bitcoin

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GameStop Corp. (NYSE: GME) today announced that it has purchased 4,710 Bitcoin, worth over $500 million. (source)

Despite the announcement, GameStop stock dropped $3.81 (-10.88%) to a price of $31.20. GameStop joins a growing list of institutions buying bitcoin as a treasury asset or strategic reserve.

Changpeng Zhao, former CEO of Binance, comments, “Simple strategy.”

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