GameStop Stock Dives After Retailer Announces $512 Million Bitcoin Buy

Adoption of the Cryptative Treasury increased the prices of shares of many companies in recent months but after Make your first Bitcoin BuyThe Gamestop video game salesman sees a much different result.

The price of Gamestop (GME) has been reduced over 10% a day and dived at the current price of $ 31.45 after the company’s word that it completed its first Bitcoin purchase. The price dropped lower than $ 30.73 before marked back to the current level.

Even with the Daily DIP, GME has increased by almost 10% in the last week and 14% in the last month.

Gamestop gained 4,710 bitcoin, worth $ 512 million when Posted on Wednesday morning. This move was scheduled for weeks after the company announced that it had raised $ 1.5 billion In order to encourage the planned buy of bitcoin, after adding a leading cryptocurrency currency at the end of March as a treasure trove.

The company’s move was pre -elaborate when the Gamestop -Ryan Cohen CEO was executive shared a photo by yourself Strategy Co -founder and executive President Michael Saylor in February. The strategy is the leading corporate holder of Bitcoin with more than $ 62 billion, from this writing, and Saylor is a vocal advocate of Bitcoin who worked on the belief of other companies to make similar moves Bitcoin Treasury.

The Gamestop Game Bitcoin has so far achieved mixed investors’ results, and the price price increased at the end of March when the move was first published, but then falls After Gamestop said he would raise up to $ 1.5 billion to buy property and not get into his monetary reserves.

Dozens of public trading companies have announced their own CRIPTO currency coffers in recent months. Bitcoin is usually the assets of choice, although companies love Definish Corp. and Uoir who accepted Saltworks They saw high gains, while on Tuesday, Nasdaq’s listed Sharplink gaming saw that his price of the stock jumps abruptly about the plans to start an an Ethereum Reserve.

Gamestop is a much larger company than most climbs that recently accepted the crypto reserves, however, with a significant business and significant history on the stock market, following the ride in 2021 “Meme Stock” craziness on jumping price in captures, led by influencer, led by influencer Keith Gill aka Roaring Kitty.