- Video game retailer GameStop (NYSE:GME) saw its stock take a hit after making a big Bitcoin purchase this week
- Its board had unanimously approved an update to its investment policy to add Bitcoin as a treasury-reserve asset
- GameStop made good on this and purchased 4,710 Bitcoin worth roughly US$500 million
- GameStop stock (NYSE:GME) opened trading at US$31.17
Video game retailer GameStop (NYSE:GME) saw its stock take a hit after making a big Bitcoin purchase this week.
After its board unanimously approved an update to its investment policy to add Bitcoin as a treasury-reserve asset earlier this year, GameStop made good on this and purchased 4,710 Bitcoin worth roughly US$500 million earlier this week. It was this time last week when Bitcoin hit its all-time high of US$111,717.45.
Investors can likely find out more when GameStop releases its fiscal Q1 2025 results after the market closes on Tuesday, June…
