Ah, GameStop (GME), the darling of the retail investor, has decided to play a rather audacious game of Monopoly with Bitcoin (BTC) as its latest treasury reserve asset. One can only imagine the boardroom discussions—“Shall we invest in Bitcoin, darling? It’s all the rage!”
In a move that has traders clutching their pearls, this video game retailer, which became a viral sensation in 2021 (remember the frenzy?), has announced it has purchased a staggering 4,710 Bitcoin, valued at a jaw-dropping $513.4 billion—at least until the next market dip! 💸
Now, hold onto your hats, because GameStop has waltzed its way into the ranks as the 13th largest holder of Bitcoin among publicly-traded companies. Bravo! 👏
Meanwhile, Strategy (formerly known as MicroStrategy) is still the reigning monarch of Bitcoin corporate treasuries, hoarding a whopping 580,250 BTC worth more than $62 billion. One can only wonder if they have a Bitcoin butler to manage all that wealth!
GameStop’s BTC escapade comes less than two months after its board, in a moment of sheer brilliance, voted to become a Bitcoin treasury company. Because why not use liquidity to maximize shareholder value? It’s not like they have anything better to do! 🤑
In their own words, GameStop declared,
“On March 25, 2025, we announced that, as part of our revisions to the Investment Policy, the Board approved the addition of Bitcoin as a treasury reserve asset, alongside US dollar-denominated stablecoins, to diversify the Company’s investment portfolio… a portion of our cash or future debt and equity issuances may be invested in Bitcoin. We have not set a maximum amount of Bitcoin we may accumulate, and may sell any Bitcoin we may acquire.”
And if that wasn’t enough to tickle your fancy, a new report from the crypto asset manager Bitwise reveals that publicly-traded companies are increasingly throwing their hats into the Bitcoin ring, with collective holdings skyrocketing from 394,131 to 786,857 BTC over just six months. It’s a veritable Bitcoin bonanza! 🎉
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2025-05-28 21:21