GameStop goes crypto: what 4,710 BTC means for the chart

GameStop has disclosed a $500 million investment in Bitcoin, marking its first significant move into the crypto space.

The video game retailer is sitting on $4.76 billion in cash and hasn’t disclosed a limit on future purchases.

GameStop shares fell 10% following the announcement, while Bitcoin pulled back toward $107,000. A 14% rally would be needed for BTC to reach the 127.2% Fibonacci extension at $122,000, while $103,800 could be a key support level where we previously saw consolidation.

CEO Ryan Cohen addressed the Bitcoin 2025 Conference in Las Vegas via pre-recorded video Wednesday too, citing macroeconomic concerns as a key driver behind the company’s decision. These likely include rising U.S. debt levels and trump tariffs.