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GameStop invested $513 million to acquire 4,710 Bitcoins.
GateNewsBot
BTC-4,78%
Gate News bot message, video game retailer GameStop disclosed in company filings submitted on May 28 that the company purchased 4,710 Bitcoins, worth approximately $513 million, but did not specify the timing of the purchase.
This marks GameStop’s first foray into the Bitcoin market, with a strategy similar to companies like Strategy (formerly known as MicroStrategy).
As of February 1, GameStop reported total cash, cash equivalents, and marketable securities of $4.78 billion. Following the announcement, GameStop’s stock price rose 4.4% in pre-market trading.
Source: Tech in Asia
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