{"id":1210,"date":"2025-05-28T13:05:52","date_gmt":"2025-05-28T13:05:52","guid":{"rendered":"https:\/\/bitunikey.com\/news\/gamestop-stock-on-watch-after-buying-4710-btc\/"},"modified":"2025-05-28T13:05:53","modified_gmt":"2025-05-28T13:05:53","slug":"gamestop-stock-on-watch-after-buying-4710-btc","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/gamestop-stock-on-watch-after-buying-4710-btc\/","title":{"rendered":"GameStop stock on watch after buying 4,710 BTC"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">GameStop doubles down on its memestock status by investing more than half a billion dollars in Bitcoin. <\/p>\n<p>GameStop is doubling down on its crypto pivot. On Wednesday, May 28, GameStop announced on social media that the company acquired 4,710 Bitcoin (BTC). The purchase was worth approximately $519 million, with each BTC valued at $109,728 at the time. The stock was higher by more than 3% ahead of Thursday\u2019s opening bell.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">GameStop has purchased 4,710 Bitcoin. <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/gGdr0BRrAv\" target=\"_blank\">pic.twitter.com\/gGdr0BRrAv<\/a><\/p>\n<p>\u2014 GameStop (@gamestop) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/gamestop\/status\/1927679297252364502?ref_src=twsrc%5Etfw\" target=\"_blank\">May 28, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The news followed the company\u2019s completion of a $1.5 billion convertible of senior notes on April 1. The sale aimed to leverage GameStop\u2019s memecoin status to buy Bitcoin and boost its share price and appeal to investors.<\/p>\n<p>This wasn\u2019t the first time the video game retailer bought Bitcoin. On March 25, GameStop approved a plan to convert a portion of its $4.77 billion in cash reserves into Bitcoin. However, it did not disclose how much of the reserves would be converted.<\/p>\n<h2 class=\"wp-block-heading\">Can Bitcoin save GameStop? <\/h2>\n<p>The latest move into Bitcoin appears to be an attempt by GameStop to rescue its struggling business by emulating Michael Saylor\u2019s strategy. Back in February, GameStop CEO Ryan Cohen posted a picture with Saylor, a gesture many traders saw as a signal of the company\u2019s Bitcoin pivot.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>For now, the strategy appears to be working. Following the latest $519 billion Bitcoin purchase, GameStop\u2019s stock rose 5.99% to $35 per share. Moreover, since first hinting at its Bitcoin pivot in February this year, the stock price rose 40%, from $25, which was its price at the time. <\/p>\n<p>GameStop is just one of the companies that is trying to copy Saylor\u2019s Strategy in an effort to boost its stock valuation. For instance, on May 28, Japanese Metaplanet issued $50 million in bonds to expand its Bitcoin purchases. What is more, just one day earlier, Donald Trump\u2019s Trump Media &amp; Technology Group announced plans to acquire $2.5 billion in Bitcoin. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GameStop doubles down on its memestock status by investing more than half a billion dollars in Bitcoin. GameStop is doubling down on its crypto pivot. On Wednesday, May 28, GameStop&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=1210"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1210\/revisions"}],"predecessor-version":[{"id":1212,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/1210\/revisions\/1212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1211"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=1210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=1210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=1210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}