From Yahoo Finance: 2025-05-28 20:47:00

GameStop Corp. (NYSE: GME) purchases 4,710 bitcoins worth over $512 million, marking its first foray into cryptocurrency. The move follows a strategy popularized by MicroStrategy and signifies the retailer’s shift towards digital asset investment.

The acquisition was made at an average price of $108,837 per bitcoin. Despite the substantial investment, GameStop Corp. (NYSE: GME) shares fell by 10.9% as the company announced plans to focus more on cryptocurrencies and move away from traditional video game retail.

Chief product officer at B2BINPAY, Vitaliy Shtyrkin, warns that GameStop’s move into Bitcoin may not yield the expected results due to the cryptocurrency’s price volatility. He notes potential risks for investors and the company’s stock already struggling from declining video game sales.

GME has seen a nearly 2% surge since the beginning of 2025, but some believe that other AI stocks hold greater promise for higher returns with limited downside risk. Investors are advised to explore alternatives that may offer more potential than GameStop.

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Read more: GameStop Corp. (GME) Slides as Investors React to $500 Million Bitcoin Purchase