Analysts anticipate a clear breakout for Bitcoin, GameStop makes its first move with the purchase of 4,710 Bitcoins: Hodler’s Digest

GameStop, the US video game and consumer electronics retailer, has confirmed its first Bitcoin investment, acquiring 4,710 Bitcoin, according to a statement posted May 28 on the companys X account.

The company did not specify how much it paid for the Bitcoin or when the purchases were made in the announcement, while its Form 8-K filing with the US Securities and Exchange Commission also offers little detail. The amount purchased was worth around $513 million at the time of writing.

The announced acquisition is GameStop’s first publicly acknowledged Bitcoin purchase since the company disclosed plans to move into Bitcoin investment in March.

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Author: Editorial Staff

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