GameStop shares rise as retailer meme stock buys first bitcoin batch, scooping up $500 million

From CNBC: 2025-05-28 08:11:00

GameStop has made its first investment in bitcoin, buying 4,710 bitcoins worth over $500 million. The move comes as bitcoin hits record highs, valued at nearly $112,000 last week. GameStop’s stock rose 3% on the news, following CEO Ryan Cohen’s efforts to revamp the struggling retailer.

Read more: GameStop shares rise as retailer meme stock buys first bitcoin batch, scooping up $500 million