The actions of the GAMESTOP video game and collection retailer dropped almost 11% on May 28 after the company announced its first Bitcoin purchase, triggering a conventional sales reaction.
The action closed $ 31.21 on the New York Stock Exchange, according to Google Finance.
The company announced the purchase of 4,710 Bitcoin (BTC) worth around 513 million dollars on May 28. GameStop confirmed its intention to create a BTC treasure strategy on March 26, after months of speculation on investors and rumors that it begins to accumulate cryptocurrency.
Trump Media and Technology Group (TMTG), the mother company of the Truth social platform by President Donald Trump, also saw his actions diving after announcing a capital increase of $ 2.5 billion to buy Bitcoin. Since the announcement of May 27, the TMTG action has dropped by more than 24%.
Gamesco’s decision to adopt bitcoin as a treasury reserve ratio reflects a growing trend among companies turning to Bitcoin to protect cash reserves or reposition as Bitcoin acquisition vehicles.
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Bitcoin as coverage against inflation of fiduciary currency
Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, the CEO of Gamesop, Ryan Cohen, said that “bitcoin and gold can be covers against global devaluation of money and systemic risk”. According to Cohen:
“Bitcoin has certain unique advantages compared to gold. The portability aspect, it is instantly transferable around the world, while gold is bulky and very expensive to ship, authenticity is instantly verified via blockchain. You can easily secure bitcoin in a wallet, while gold requires insurance, and it is very expensive.”
The CEO has also cited the absolute rarity of bitcoin and the potential that the rate of inflation of gold increases due to technological progress as a factor in favor of the choice of bitcoin rather than gold for the long -term storage of value.
Bitcoin also has greater rise in increase because digital assets are still in its infancy and continues to be monetized. According to Cohen.
“Gold is a more mature market. It is around 20 billions of dollars in market capitalization, while Bitcoin is today about 2 billions of dollars,” said GameStop CEO.
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