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.”
Simple strategy. https://t.co/Xk8hLMwefY
— CZ 🔶 BNB (@cz_binance) May 28, 2025