GameStop, Purchased 4,710 BTC over a month…Market value of 510 million dollars

It was confirmed that GameStop (GME) recently purchased a total of 4,710 Bitcoins over the past month. TriNews, citing Bloomberg reports on the 11th (local time), conveyed that GameStop secured that scale of BTC from May 3 to June 10. At the current market price, this equates to about $510 million.

Previously, GameStop had announced a plan to issue $1.3 billion worth of convertible bonds to raise funds for Bitcoin purchase, and this acquisition is interpreted as a part of that strategy. The move of a traditionally retail-centered company to hold a large-scale cryptocurrency asset is showing a new trend in the market, breaking the boundaries between institutional investment and digital assets.