GameStop, the US video game and consumer electronics retailer, has confirmed its first Bitcoin investment, acquiring 4,710 Bitcoin, according to a statement posted May 28 on the company’s X account.

The company did not specify how much it paid for the Bitcoin (BTC) or when the purchases were made in the announcement, while its Form 8-K filing with the US Securities and Exchange Commission also offers little detail. The amount purchased was worth around $513 million at the time of writing.

The announced acquisition is GameStop’s first publicly acknowledged Bitcoin purchase since the company disclosed plans to move into Bitcoin investment in March.

At the time, GameStop said it would fund the Bitcoin purchase through debt financing and launched a $1.3 billion convertible notes offering.

Source: GameStop

The news comes after months of speculation that GameStop was exploring alternative assets, including cryptocurrencies.

GameStop stock jumped 18% on Bitcoin investment speculation

GameStop (GME) stock shares have climbed amid the speculation, jumping 12% in March. February rumors helped fuel an 18% spike in GME stock prices.

According to TradingView, GameStop shares closed at $35 on May 27 and were trading at $36.30 in the pre-market at the time of publication. The stock is up around 30% in the past 30 days, with year-to-date gains of about 10%.

Related: Strategy bags 4,020 Bitcoin as price briefly breaks $110K

GameStop (GME) stock year-to-date price chart. Source: TradingView

Cointelegraph contacted GameStop for comment regarding its Bitcoin purchase but did not receive a response by the time of publication.

Bitcoin’s corporate adoption booming

GameStop’s Bitcoin investment is the latest in a trend among companies purchasing the world’s largest cryptocurrency following the lead of Michael Saylor’s Strategy (formerly MicroStrategy), which made its first BTC acquisition in August 2020.

Companies such as Japan’s Metaplanet and Brazil’s Meliuz have beefed up their Bitcoin holdings this year after adopting Bitcoin treasury strategies as well.

On May 27, Trump Media and Technology Group, the company that owns US President Donald Trump’s Truth Social platform, confirmed a $2.5 billion capital raise to purchase Bitcoin after previously denying reports of the deal.

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GameStop, the US video game and consumer electronics retailer, has officially announced its first Bitcoin purchase, confirming multiple reports on kicking off BTC investment.

GameStop has purchased 4,710 Bitcoin (BTC), the company announced in its short official statement on X posted on May 28.

Source: GameStop

The event marks the first publicly announced Bitcoin acquisition by GameStop since the company disclosed plans to move into Bitcoin investment in March 2025.

At the time, GameStop mentioned that it planned to finance the purchase through debt financing and launched a $1.3 billion convertible notes offering.

The news comes months after online reports first suggested that GameStop was considering investment in alternative asset classes, including cryptocurrencies, in February 2025.

Amid the news on GameStop’s Bitcoin investment plans in March, GME shares showed significant growth, jumping 12%. Previous BTC investment speculation fueled an 18% spike in GME.

According to TradingView, GameStop shares closed at $35 on May 27 and were up to $36.3 on pre-market by publishing time. The stock is up around 30% in the past 30 days, with year-to-date gains of roughly 10%.

This is a developing story, and further information will be added as it becomes available.

Magazine: Bitcoin vs. the quantum computer threat: Timeline and solutions (2025–2035)

The Open Network Foundation (TON Foundation) appointed former Visa executive Nikola Plecas as its new vice president of payments.

Plecas will be responsible for shaping and executing TON’s payment infrastructure strategy, the company said in a May 28 blog post.

He is tasked with expanding the network’s capabilities, managing financial partnerships and ensuring compliance across jurisdictions as the foundation scales services for over 1 billion Telegram users.

“Joining TON Foundation represents an incredible opportunity to shape the future of payments on a truly global scale,” Plecas said.

Related: How to use tsUSDe on TON for yield-generating dollar savings

Plecas to lead TON’s new payment strategy

Plecas will lead the push to build a payments architecture that is both globally interoperable and robust enough to handle increasing demand from developers, enterprises and end-users, per the announcement.

Plecas brings a track record from his time at Visa, where he played a central role in crypto-related initiatives, including product development and global commercialization.

He helped streamline on-ramp performance across multiple markets and developed Visa’s digital currency engagement model for European clients. He also contributed to numerous fintech and crypto issuance projects and frequently spoke on Visa’s behalf at major industry events.

Source: TON

TON Foundation CEO Max Crown noted that payments are a core pillar of TON’s roadmap. “With deep industry expertise and a clear vision for scaling payment infrastructure, Nikola brings the experience and leadership we need to accelerate TON’s global growth.”

Cointelegraph reached out to TON for comment but had not received a response by publication.

Related: TON’s Broxus launches blockchain app scalability platform TON Factory

Ethena offers USDe to Telegram users

On May 1, decentralized stablecoin platform Ethena partnered with TON to make its stablecoins available to Telegram’s user base of over 1 billion people.

The partnership will see the deployment of Ethena’s USDe (USDE) and Ethena Staked USDe (sUSDe) within the TON blockchain. The sUSDe variant will be integrated under the name tsUSDe, enabling Telegram users to access US dollar-denominated savings directly within Telegram.

Notably, the TON Foundation has also been closely collaborating with Tether, connecting TON to Tether’s USDt ecosystem with LayerZero in February 2024.

As part of its ambitious scaling plans, TON expects to connect its ecosystem to at least 100 chains, including Ether (ETH), Tron (TRX) and Solana (SOL).

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