- Daily Dispatch
- Posts
- GameStop's Bitcoin play 🎮
GameStop's Bitcoin play 🎮
The price of GME fell sharply Wednesday following word from GameStop that it had made its first Bitcoin purchase.
James Rubin
May 28, 2025
Together with:
📝 What you need to know
Are Bitcoin treasuries a sure path to higher share prices?
Not for GameStop on Wednesday: The struggling video game retailer’s stock swan-dived after making its first Bitcoin buy.
GameStop’s (GME) price closed down nearly 11% on the day to $31.21. GME tumbled as low as $30.63 before recovering ground.
GameStop acquired 4,710 Bitcoin, valued at about $512 million when disclosed Wednesday morning. Analysts had expected the move after the company added BTC as a treasury asset in late March, and raised $1.5 billion in early April to fuel its purchases.
The purchase comes as multiple companies adopt a strategy pioneered by Strategy, formerly MicroStrategy, whose stock price has soared more about 2,800% since it pivoted from software development to Bitcoin accumulation. Other companies’ share prices have also climbed following their Bitcoin purchases. The asset has spiked roughly 15% year-to-date, trading at over $107,000, partly due to this corporate embrace.
Even with Wednesday’s dip, GME is up almost 10% over the last week and 13% over the past month.
📊 Myriad Market of the Day
From our partner
🔥 NFC Summit #4 is coming June 4–6 in Lisbon! The world’s first Web3 pop-culture festival returns with 8 themed events, 350+ top speakers, immersive experiences, and a 12-hour Tulum-style beach party. Get 90% off now—limited to the first 20 tickets! 🌞🎟️
💬 Quote of the Day
“The Biden administration’s department of labor made a choice to put their thumb on the scale. We're rolling back this overreach and making it clear that investment decisions should be made by fiduciaries, not D.C. bureaucrats.”
