GameStop has made a significant move by investing in Bitcoin, adding to its already substantial market presence. CEO Ryan Cohen’s latest purchase, including acquiring over 500,000 Class A shares at $21.55 each for an estimated $10.78 million, increases his ownership stake to 8.4%. This strategic move comes after GameStop recently made headlines with the addition of Bitcoin to its reserves. The SEC filing reveals Cohen’s precise acquisition details and highlights the financial rationale behind this investment. The company plans to invest a portion of its cash reserves in Bitcoin through the issuance of $1.5 billion in convertible bonds, aiming to enhance its financial stability within the volatile cryptocurrency market.