GameStop Invests Heavily in Bitcoin, Aiming for a Memestock Revival

GameStop takes another bold step towards securing its meme-stock future by investing over half a billion dollars in Bitcoin. The video game retailer announced on May 28th that it purchased 4,710 Bitcoins (BTC), worth approximately $519 million at the time. This follows GameStop’s recent $1.5 billion convertible notes sale, aimed at boosting its stock price and attracting new investors. The purchase adds to the company’s prior Bitcoin investment, with a plan to convert a portion of cash reserves into BTC already established in March.