Sofi Plans Major Crypto Comeback After Regulatory Breakthrough
GameStop CEO Cohen Buys $10M of GME Shares Following Bitcoin Acquisition Plan
- News In 4 Seconds
Krisztian Sandor
- 0
- 3 minutes read
Ryan Cohen, the chairman and CEO of video retailer GameStop (GME), increased his stake in the company following the firm’s decision to add bitcoin (BTC) as a treasury reserve asset.
STORY CONTINUES BELOW
Don’t miss another story.Subscribe to the Crypto Long & Short Newsletter today.See all newslettersBy signing up, you will receive emails about CoinDesk products and you agree to ourterms of useandprivacy policy.
According to a Thursday filing to the U.S. Securities and Exchange Commission (SEC), Cohen acquired an additional 500,000 shares of the company’s Class A common stock at $21.55 per share, totaling approximately $10.78 million.
This purchase elevates Cohen’s total holdings to 37,347,842 shares, representing about 8.4% of GameStop’s outstanding shares, the filing shows.
Cohen’s purchase comes on the heels of GameStop’s board approving a plan in late March to invest part of its cash pile in bitcoin. The firm also issued $1.5 billion in convertible notes to raise funds for its BTC acquisition plan. That capital raise closed earlier this week.
GME shares are slightly up premarket trading after falling over 7% on Thursday as U.S. stocks plunged in reaction to President Trump’s tariff announcements.
