GameStop Purchases 178.1 Billion Won Worth of Bitcoin (BTC)… “Starts Basic Cryptocurrency Strategy”

GameStop, a video game and electronic product distribution company in the United States, has officially announced and confirmed its first BTC investment by purchasing Bitcoin (BTC). GameStop posted a concise statement on its official X account on May 28 (local time), revealing that it has acquired a total of 4,710 BTC. This investment comes amid the gradually revitalizing cryptocurrency market atmosphere in recent months, adding weight to existing rumors. While the company did not disclose the exact purchase timing or average purchase price, based on market rates, the acquired amount is equivalent to approximately $130 million (about 17.81 billion won). With this move, GameStop has joined the ranks of major listed companies with large-scale Bitcoin holdings, alongside Tesla ($TSLA), MicroStrategy, and Block ($SQ). GameStop, which was the protagonist of the 'meme stock' phenomenon in 2021, gained public attention through its stock price surge and short-selling confrontation with Wall Street hedge funds. After intermittently entering the digital asset and Non-Fungible Token (NFT) business, this time the company has transitioned to a more full-fledged cryptocurrency asset holding strategy. The changing political climate in the United States, including former President Trump's recent indication of Bitcoin acceptance during election campaigns and some Republican figures mentioning cryptocurrency-friendly policies, is interpreted as stimulating corporate Bitcoin investment decisions. GameStop's decision is expected to potentially prompt more distribution and consumer goods companies to declare entry into the cryptocurrency market.