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Key Insights:
- GameStop acquires 4,710 BTC worth $513M using funds from its $1.5B zero-interest convertible note offering.
- MicroStrategy now holds 580,250 BTC after latest 4,020 BTC purchase on May 26, valued at over $63B.
- BlackRock’s IBIT ETF adds 7,900 BTC on May 27, reaching 643,800 BTC in total inflows since launch.
GameStop joins MicroStrategy and BlackRock in expanding Bitcoin holdings, adding 4,710 BTC. Over $1.5 billion flowed into Bitcoin this week, signaling deeper institutional adoption amid political speculation and rising corporate interest in crypto treasury strategies.
GameStop Finalizes $513M Bitcoin Investment
On May 28, GameStop confirmed its first-ever Bitcoin purchase, buying 4,710 BTC for approximately $513 million.
The company raised $1.5 billion through a private convertible note sale, earmarked for digital asset investment, before the move. GameStop is now the 13th largest publicly listed Bitcoin holder, ahead of Semler Scientific.
GameStop disclosed the purchase via its official X account, marking a formal shift in strategy. The move aligned with a March announcement outlining plans to diversify reserves with Bitcoin.
The convertible notes, carrying a 0% interest rate and maturing in 2030, allowed GameStop to access capital without ongoing financing costs. Following the announcement, its stock rose 4.31% in pre-market trading to $36.52.
Shares closed at $35 on May 27 and climbed more than 30% over the past 30 days. Market response underscored growing investor attention as GameStop adopted Bitcoin as a treasury asset.
MicroStrategy and BlackRock Add to Holdings
MicroStrategy also bought 4,020 BTC on May 26, bringing its total to 580,250 BTC. Now the company’s Bitcoin is worth more than $63 billion, with a total cost of $33.1 billion and an average purchase price of $66,384.56. It continues to hold Bitcoin as its main treasury reserve asset.
While MicroStrategy’s aggressive BTC strategy remains unmatched by public firms, others are following suit. Major players looking to hedge with digital assets have been inspired to do the same. Its stock has enjoyed a run in recent months as its Bitcoin portfolio has continued to grow.
Moreover, on May 27, BlackRock’s iShares BTC Trust (IBIT) also saw a huge inflow of 7,900 BTC, bringing its total up to 643,800 BTC.
By net assets, IBIT is still the top spot Bitcoin ETF in the U.S. According to SEC filings from March, BlackRock’s internal portfolio held over 2.1 million IBIT shares worth $99.4 million.
Metaplanet Joins Wave as Institutional Demand Expands
This week, Japan-based Metaplanet sold $50 million in 0% ordinary bonds to fund more Bitcoin purchases. The company revealed the move via its official X channel. While it hasn’t confirmed how much BTC it has, more details are expected.
It’s part of a broader corporate trend of acquiring Bitcoin exposure via low-cost debt. The model, adopted by MicroStrategy across regions, has been used successfully. The entry of Metaplanet is a sign of growing interest in Bitcoin even outside North America.
An already bullish market was given more momentum when speculation of a $2.5 billion Bitcoin purchase tied to the Trump campaign came out. While not confirmed, it is a continuation of the crossover between crypto and political narratives. More than $1.5 billion in corporate inflows this week alone have kept bitcoin around $108,791.
GameStop’s high-profile buy could spur similar treasury moves by other mid-cap firms. As Bitcoin adoption increases in corporate finance, the treasury strategy is moving from passive cash management to ative crypto positioning.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
