GameStop quietly acquired 4,710 Bitcoins, becoming the 14th largest BTC holder in the world.

robot
Abstract generation in progress

[Coin World] GameStop CEO Ryan Cohen disclosed in SEC filings in May 2025 that the company has quietly acquired 4,710 Bitcoins, worth over $500 million. This move makes GameStop the 14th largest Bitcoin holder in the world. Cohen continued his usual style, not holding an investor meeting and only completing the investment through the minimum legal disclosures required. The funds came from Convertible Bond financing, and the company still maintains a cash reserve of $4 billion. Previously, GameStop had attempted the NFT market but encountered failure, and this Bitcoin investment is seen as a more mature digital asset strategy. Cohen stated that Bitcoin has advantages such as portability, verifiability, and scarcity, making it a tool for Hedging against global currency depreciation. Following the news, GameStop's stock price fell, but the company subsequently refinanced $450 million through an overallotment option. Cohen has garnered substantial support from loyal retail investors due to his successful transformations at Chewy and GameStop.

BTC-0.79%
GME4.78%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Share
Comment
0/400
AirdropSweaterFanvip
· 06-30 02:32
play people for suckers还没割完就play people for suckers
View OriginalReply0
GateUser-a180694bvip
· 06-29 21:55
When will I be able to get a few coins...
View OriginalReply0
FlashLoanKingvip
· 06-27 09:10
BTC is the best in the world
View OriginalReply0
SchrodingerProfitvip
· 06-27 09:09
A bit harsh, all in on Bitcoin
View OriginalReply0
DeFi_Dad_Jokesvip
· 06-27 09:08
Buying coins secretly is nothing to be afraid of.
View OriginalReply0
BearMarketBarbervip
· 06-27 09:05
No wonder it fell after the Margin Replenishment.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)