Bitcoin Forum

GameStop has just announced[1] that they have bought 4710 BTC (worth 500m$ with the current rates) just when people started being skeptical the meeting between Michael Saylor and GameStop CEO Ryan Cohen a few months back[1]

It's really starting to become difficult to keep track of all companies raising money to buy bitcoin...

[1] https://x.com/gamestop/status/1927679297252364502
[2] https://x.com/BitcoinMagazine/status/1888244196848353504?lang=en

This shows lots of indications in which every investors have to take note of, the market is more likely to make all time high soon and this may get to $120,000 or more.

This increasing adoption for the use of bitcoin as national reserve could be as a result of US initial decision and their recent action of investing a particular amount for bitcoin reserve, which makes other industries and institutions take similar steps after them.

Lastly, all these are part of what many are now seeing as a positive moves for them to take opportunity in bitcoin before the last all time high for this season is reached, if US, China and Russia could consider same bitcoin, I don't know what others are waiting for.

I was about to post this but I search first and I saw that you have posted it already. This is the first time that the video game retailer will buy bitcoin but it has announced it before.

According to what I read on CNBC (https://www.cnbc.com/2025/05/28/gamestop-shares-rise-as-retailer-meme-stock-buys-first-bitcoin-batch-scooping-up-500-million.html), Shares of GameStop rose nearly 3% in premarket trading following the news. The meme stock is up about 12% this year. As of February 1, the company had amassed a $4.76 billion cash pile, according to its annual report released in April.

I think some businesses want to be more well know and they go for bitcoin. It is a business strategy.

I am not sure if that’s good news for bitcoin. On the surface it looks like it but then GME’s reputation as a meme stock might drive other serious institutions away.

“If these meme fools are buying it, we better steer clear of it.”

As you know GME is not only a meme stock, it is practically bankrupt. So them raising capital to buy btc dont look like a smart idea in my book. It reeks of desperation.

Had apple or nvidia done that, I would picture it differently but not now, not like this.

Thanks for sharing, bro!

It is happening as we wanted, it's the huge adoption we prayed for. Those companies, and some former critics, are now afraid of missing out on the world's cake. Which is why they are injecting their quota in millions of dollars and will continue topping it up as Bitcoin grows. ;)

This is a nice development and highly encouraging for all bitcoin lover. If I may ask, do they make this purchase via ETF because there have not been any significant effect of such huge orders in the market or the bitcoin market have become so big that $500 million cannot even move the market? I expected to see some movements in the market to signify the entry of a whale in the market.

I think thats how it going to be till the number gets too much to the point its become an endless list to count, more companies are looking up to starting joining the train to avoid been left out. The other day a company called the TwentyOne company announced their strategic plan of acquiring bitcoin daily.

I don't know what prevented GameStop purchasing bitcoin earlier with cheaper prices and why did they have to wait till very recently to buy bitcoin. If there is no legal barrier or complicated necessary steps for their purchase earlier, it's kind of strange that they delay their entry for a long time since their meeting with Michael Saylor months ago.

News are like appearing daily and the snowball seems to be kicked off since Bitcoin Spot ETF approvals in January 2024. About one and a half year later, snowball effects begin to be clearly shown through more activities from institutional investors.

GME pertained to a particular brokerage platform. if you have a fork of bitcoin you COULD sell it even to some schmuck on the internet without an exchangeI believe something like this kinda happened when SegWit thing went down, but the users did not agree so then they found out even if blackrock chooses the right fork you still lost out on the ability to sell that shitcoin to devalue it and pick up some more bitcoin with  the proceeds.
That you have "power" in bitcoin until you try to exert it.

The Sponsor will base its determination on whatever factors it deems relevant, including but not limited to, the Sponsor’s beliefs regarding expectations of the core developers of bitcoin, users, services, businesses, miners and other constituencies, as well as the actual continued acceptance of, mining power on, and community engagement with, the Bitcoin network, or whatever other factors it deems relevant. There is no guarantee that the Sponsor will choose the digital asset that is ultimately the most valuable fork, and the Sponsor’s decision may adversely affect the value of the Shares as a result. The Sponsor may also disagree with Shareholders, the Bitcoin Custodian, other service providers, the Index Administrator, cryptocurrency platforms, or other market participants on what is generally accepted as bitcoin and should therefore be considered “bitcoin” for the Trust’s purposes, which may also adversely affect the value of the Shares as a result.

In other words, stop using bitcoin ETFs.

You are right in few days ago I read in the news about food servicing company purchasing over 21 bitcoins with an investment target of owning 50 bitcoins.
All these institutional large buying of bitcoin was encouraged by Micro strategy and til date, the strategy is still buying without undermining the price of bitcoin price unlike most investors that only find interest on buying when the price is down.

It's a good news but it's not going to help them. GameStop is a dying business. Gamestop sells physical video games while we live in a time where everything is becoming digital and steam & epicgamestore are in a huge demand. We live in a time where subscription model is also becoming very popular and will take over everything. I'm sure that soon services PlayStation Plus and XBOX Game Pass will be offered by steam and epic and they'll be more popular and working model.

I came to the conclusion that someone being a rich, being a top manager, owning a company and so on, doesn't mean they are smart. Since IQ and income aren't correlated, we shouldn't expect smart decisions from companies but shout-out to Michael J. Saylor, the owner of MicroStrategy for being very smart!

That's because of what I said in the other thread. (https://bitcointalk.org/index.php?topic=5544629.msg65427015#msg65427015)


You don't get the point. MSTR was a dying business, SMLR was a dying business, the early adopters of the strategy are the businesses that are dying, because it saves them from death, not Microsoft or Apple.

It is a good idea for a project, website that tracks all of these and also evaluates them based on transparency. There is this https://bitcointreasuries.net, but it is not enough and it does not care about proof of reserves. Just with this purchase alone Gamestop is in top 15. We are very early.  :)

GameStop has excellent financial health, they have basically no debt and a lot of cash.

As it looks pertaining how impressively lot of institutional investors have been buying bitcoin without undermining the high price in the current time, it's quite promising that we may see above the $170,000 speculation of the market before the year ends because the market has been surging up high with the impact of previous buying which is to say these recent purchases of the instituional investors are still on pending impact. So, there's said to be lot do hedges that's to encourage the markets power to keep surging in the pace of this bull event.



But the US has only been proposing and dialoguing on the protocol of buying. Their current holding is acquired by seizures yet. So therefore, I think Micro strategy is the point of contact with their timeless buying and holding the staff of bitcoin investment strategies which others is emulating.

A very bold move, dropping half billion for bitcoin at 108k

I think this is part of the current administration’s plan to accumulate more BTC supply, and major companies are participating because they see it as an opportunity to become more flexible and future-proof. But when I saw the news, I wondered—why are some firms only investing now? Why not at the $80K–$90K range in the past months? Even Japan’s Metaplanet just bought BTC recently (may 19). So maybe there's a specific signal they were all waiting for. This is how insiders operate in some small projects—it might look like a poor move on the surface, but in reality, it’s been planned out well.

So maybe it's a sign that BTC can go more if this is really a planned entry.

I also saw in the article you referenced that their shares dropped after the announcement of the purchase of Bitcoin.

This was exactly what happened to DDC Enterprise an Asian food company that bought 21 BTC ($2.28M). Their shares dropped 14.5% in a day after the announcement.(When a Food Company Buys Bitcoin  (https://bitcointalk.org/index.php?topic=5544565.msg65421709#msg65421709))

Anyway, another good news about more institutional investment.

Gamestop has billions in cash balance, money that is deteriorating every year It is less bold than you believe.

It is still very early, you are underestimating BTC if you think this is all it can do. Gold will lose its throne, and for that to happen you need a price of $1m per BTC or higher.

This is what Wall Street assumed would be the demise of GameStop, but they did not. Remember, while it is true that they are not in a business that looks future proof, we still have millions of people, who buy the game physically, in order to be able to sell it back.

Gamestop famously pays very little to get it back, which is bad, but at least, you get something instead of nothing. If you buy it digitally, you can't give it back and can't make a dime. So they are still doing alright, sure their finances do not look awesome, but with this bitcoin deal, they could do fine. They could even move to sub model one day, who knows? We have no idea what it would do so it's going to be an important deal for most of us with time.

With the type of big companies both tech and government own, organisations and other sectors are getting involved in Bitcoin purchases. This type of news only shows a great interest increase among the people, but it no longer pushes the price to the top all of a sudden just by such announcements.

We will definitely get to a new all-time high sooner, but it won't be because of this type of news. Bitcoin will naturally get there just as it has been doing in the past, even when demand and supply play a role, but it's done silently.

We know bro. Just because a firm has deep pockets doesn’t mean it can throw money anywhere without consequences. Allocating capital into Bitcoin, especially at a $108K entry during early global adoption, isn’t just bold—it’s high-stakes, if it's less bold then why other major firms like Apple didn't put something to it even they are the top of the line ('cause it's not about the money). We’re not here to doubt Bitcoin, most of us are pro-BTC, and that’s exactly why we’re here and discussing about it. But please remember, when a major firm steps in, it carries the weight of future outcomes and the trust of countless investors. It’s not just about gains, it’s about accountability.

And while we support Bitcoin’s vision, don't glaze too much. Volatility is still a real threat. One coordinated move, one wave of manipulation, and the entire trend can shift in just a blink of an eye.

That news was edited and the opposite was posted. I copied this from the site directly:


I am not into stock to know what the actual price is but I am sure that news was edited.

I saw the market now and it is very red which is not good at all.

This is a daily chart of the share:
https://talkimg.com/images/2025/05/28/UXZFFo.jpeg

You are comparing different things. Apple is not an innovative company and has not been for decades. Apple is a cash cow company milking brand cultists. As you can see, all innovative adoption is coming from smaller entities. There is very little risk about adopting Bitcoin now, and as I said, it is not high-stakes. It is high-stakes to invest in the best performing asset of the last 2 decades, which is now also one of the largest asset classes in the world? Yeah right.

Maybe check your data, Bitcoin has been less volatile than most stock. The days of Bitcoin being a very volatile asset are long gone.

I am always asking to myself: how they are strong these coins? Because they own the tokens and not just and IOU piece of paper...anyway if they had enough cash for making a big purchase like this, once big companies or other entities will do the same.. what will be the effect on exchanges?! actually there Is already a record (low) of Bitcoin in exchanges (around 1.3 milione)

Looks like Ryan Cohen was waiting on the Bitcoin Conference in Las Vegas in order to announce the big purchase. Not bad at all for the first time, a cool amount to own. Two more like this and they will be at the top of the Bitcoin treasury companies. Ryan said that they are not following any strategy but their own. In any case, this is interesting and will put Bitcoin treasury strategy on the map, because Gamestop is a way more known brand than any of the existing ones. They could come up with creative ways to benefit from this good traction such as accepting BTC payments on all Gamestop shops. They would have a lot of bitcoiners supporting Gamestop by making purchases. You can't lose really. And now with the US administration involved, they could get in contact with VP Vance and tell them to remove taxes on BTC purchases, then it's on.

Recently all companies are imitating Micheal Saylor, the micro strategy. I think most of them had a fear of missing out, so they started collecting bitcoins, it is definitely becoming difficult to follow. I believe that we will see good increases in bitcoin prices together with the supply shortage.

Bitcoin does not need companies or governments, on the contrary, companies and governments need bitcoins. The best thing for small and individual investors would be to save and buy bitcoins with their savings.

They don't own any IOU, or tokens. They own Bitcoin.

Why would it be difficult to follow? There is plenty of capital to go around, a lot of it is not used at all. Bitcoin is pretty cheap compared to what price it could have.

While bitcoin does not need companies, if companies adopt bitcoin as a treasury asset, it legitimates bitcoin at the corporate level, and then governments are forced to legislate about it, and so then political parties will have to decide if this is good or not to go. Anyone reasonable would consider that in a free society, people are free to hold fiat, gold, BTC, or any other assets, so most likely governments at least in the west will become pro-BTC eventually, if not then the US is going to get all the action, but I believe eventually everyone pivots and BTC is just accepted as another asset on your balance sheet and this is good for BTC even if BTC does not need it.

I'm pretty sure they are using 3rd party custody service because legally speaking, it's needed and so far the one that I know is bitgo, there might be others as well.

It's to mitigate the risk of security as well I think. Even exchanges uses these services.

Bitcoin adoption by companies like MSTR is less about desperation and more about a caculated gamble, which oen that can bring immense rewards or steep losses, depending on the market conditions.

Every time I see news like this, I think it's good that it only took 15 years for someone to invest in BTC, but honestly, I would prefer it if it took them at least another 15 years to figure it out. Why am I saying that? Well, maybe because all these investors are just hoarding BTC and will probably never use it as they should, making BTC even more expensive and also more vulnerable in the sense that they can be hacked at any moment.

I hope that as many ordinary people as possible will buy BTC, because it would mean more than if companies like this buy it.

All these companies including metaplanet, gamestop or microstrategy are not going to use bitcoin for payments or transfers, but use it as a financial leverage.
Now microstrategy has tens of billions of dollars worth of bitcoins and its core business of selling software brings in less than a billion dollars, a real gold mine.
It is the same with metaplanet, which no one knew before they bought BTC, even in Japan, and now they are already placing their bonds secured by bitcoin, to buy bitcoin, and while the price of bitcoin is rising it is like a perpetual motion machine that does not stop, but always moves forward.

Game stop was a little less lucky, because they bought bitcoin almost near their ath and therefore their shares did not grow much, but if bitcoin grows to 120-140k, everything will change and gamestop shares will also go up.

This company is practically dead; they have no business buying bitcoins. They might as well file for Chapter 7 bankruptcy and liquidate.

What are you talking about? Just because it has not yet found a new business direction and has an outdated business model, that does not make it practically dead. This is what you consider practically dead?

I wish I had a couple of these dead companies with a few billion to spare.  ;)

I'm not gonna attempt to interpret any of those numbers in that report since I'm not a stock investor, but I think their situation is summed up by, as you have stated, "it has not yet found a new business direction".

Perhaps calling it practically dead is an exaggeration, but I don't see why a company like Gamestop in hard times doesn't use the money they are investing in Bitcoin to do market research and develop an successful product.

Buying bitcoins is something that you expect Microstrategy and Blackrock to do, not a video game company who is bleeding market share to competitors.

Nothing wrong with regular, non-finance businesses buying Bitcoins if they want to, by the way. It just signals to me that they are unserious about turning their long term revenue around - or they've already conquered the market and are focusing on reaping profits now.

The numbers are easy to interpret. Gamestop is one of the few companies that has practically no debt, and has billions to spare at these company sizes (don't compare it to Apple of course). Currently they are still profitable every year. They would have to start operating in negative numbers and it would take many years before they burn out their cash balance. So yes, they have money to do something like this and have time before their situation becomes a problem. I am sure they are actively working on changing their business model, but that is a hard question to answer. What would you pivot to if you were Gamestop?

While they are trying to figure it out, why not use 10% of the cash to buy Bitcoin to improve their chances?  :) It has no negative impact on them, as it is a low percentage, no debt was used and no shares were diluted either.

At the risk of going off-topic, they should really look into B2B game server and DLC hosting.

I think it would help game studios a lot in avoiding worrying about where to host their multiplayer boxes, their "update the game" boxes and so on.

There's dozens of these servers involved for a given AAA title for load balancing purposes and the like, and also to mitigate DDoS.

GameStop has a lot of cash so they can afford to lease an appropriate data center for cheap, configure all the servers and then resell them.

Then with all those servers you can make a giant DLC store for all PC games on their websites.

So instead of video games they sell DLCs. They would have to sacrifice all their stores but I think it will be worth it.

Xbox, Playstation, Android and iOS all have their own DLC stores ran by one corpo.

They can even sell keys for cheap like G2A if they want.

But, it's up to them to decide what they want to do. Now that I mentioned it, some guy reading this post is probably going to make this startup. :)

Im checking the financials and this company's cash holdings have increased a lot in the last 3 quarters way more than many years before, the chart im looking at goes back to 2020. They also did some sort of ATM in the last 3 quarters, so I assume they sold shares at the market and then held this in cash, but this info may not include their BTC purchases yet which should be reported for this quarter in the next one. OPEX is tending lower nicely. Net income was great at $131.3 million. Software revenue is tending lower, since people are buying games on Steam. Revenue from collectibles has been higher than hardware and software (videoconsoles and videogames which is what I guess is sold there).  So it looks like this is the type of company to benefit from BTC. Large following, heavily shorted and ability to raise debt at reasonable levels. Then when they have a big back of BTC they can find ways to monetize it and profit in more ways.

It will become increasingly common for large corporations to buy up large amounts of bitcoin. They can use leverage, either financial or equity, to raise additional capital and invest in new assets (in this case, bitcoin) that will yield a return higher than the cost of the debt they have incurred. It is risky, but it can be positive in the long run. It can help improve the perception of value and impact price growth.

Their only way to keep going is to change from selling games into venture capital. That's what Saylor is doing. He said it himself that if he kept doing the thing he was doing he'd go out of business because large software companies can offer cheaper product.

Gamestop is sitting on a lot of capital that can go into something, do some good. They could start drilling wells in Africa, get into real estate, or do what they're doing  -buy bitcoin.

IMO they are still far from being bankrupt.

Who would’ve thought? From bankrupt to a Bitcoin buyer, GameStop is a rather unusual case of a company that managed to recover thanks to small investors on an internet forum. Crazy, it’s practically a story you'd see in a Hollywood movie. Now we just have to see how this and other companies buying Bitcoin at the top will perform when the bear market arrives.