GameStop Stock Price Continues Sinking After $512 Million Bitcoin Buy

The inventory worth of outstanding online game retailer GameStop fell for the second straight day after the corporate introduced its first-ever Bitcoin purchase in extra of $500 million Wednesday morning.

GME completed the buying and selling day down over 5% to $29.57 per share, diving additional after a virtually 11% every day drop by the tip of the buying and selling day Wednesday. The Nasdaq-listed inventory has misplaced most of its weekly beneficial properties, now up simply greater than 1% over that span.

GameStop’s share worth popped to only shy of $36 at Wednesday’s open, the best worth recorded in practically a yr since GME briefly popped to $48 in June 2024 when meme inventory influencer Keith Gill (aka Roaring Kitty) made his return.

The agency has now seen that sort of Bitcoin-related volatility on a number of events. GameStop’s inventory worth rose in late March when it initially disclosed its plans so as to add Bitcoin as a treasury asset, however then fell quickly after when the corporate introduced plans to lift as much as $1.5 billion to purchase BTC slightly than faucet into its money reserves.

Whereas GME was down Thursday, inventory market indices have been broadly inexperienced, albeit solely barely so. The Nasdaq and S&P 500 each completed up by about 0.4%, with the market digesting large information like a U.S. commerce courtroom pushing again on President Trump’s tariffs—although an appeals courtroom has since stepped in—and an financial report exhibiting a contraction in GDP.

The continued decline in GameStop’s worth over the past two days comes as Bitcoin itself struggles to carry onto current beneficial properties after setting a brand new all-time excessive worth final Thursday.



After peaking at a brand new excessive of $111,814 on Might 22, the value of Bitcoin has regularly fallen, now down greater than 5% since then to a present mark of $105,957. Different main belongings like Solana, XRP, and Dogecoin have fallen more durable over the past seven days, whereas Ethereum is down lower than 1% throughout that span.

GameStop introduced early Wednesday that it acquired 4,710 Bitcoin, valued at $512 million on the time and about $499 million as of this writing.

The agency raised simply shy of $1.5 billion to place in the direction of the Bitcoin treasury initiative, and CEO Ryan Cohen stated throughout a video interview at Wednesday’s Bitcoin 2025 convention that the agency is “not going to name our photographs prematurely” concerning potential future BTC buys.

Technique, the most important company Bitcoin treasury holder with over $61 billion value of Bitcoin, pioneered the mannequin that GameStop is following. It has propelled Technique’s inventory (MSTR) to new heights in current months, and helped enhance many different smaller companies which have adopted their very own crypto methods in current months.

GameStop buyers, nevertheless, do not look like as excited in regards to the retailer’s newest crypto embrace—a minimum of up to now.