GameStop has acquired approximately 4,710 Bitcoin (BTC) worth $500 million as part of its corporate strategy to hedge against inflation. CEO Ryan Cohen announced the investment, positioning it as a response to persistent supply chain disruptions and rising hardware costs impacting traditional business operations.
The company confirmed it is evaluating multiple cryptocurrencies for future payment adoption, specifically aiming to integrate digital asset transactions within its trading card division. This initiative seeks to expand market accessibility and leverage blockchain technology for customer payments.
To support these strategic shifts, GameStop raised an additional $450 million through a private offering, contributing to a total fundraising target of $2.25 billion. The capital injection is designated for operational flexibility and ongoing investments in emerging technologies.
Despite the significant announcements, GameStop stock exhibited muted market reactions and continued volatility throughout the year, reflecting investor ambivalence toward the company’s evolving direction.