GameStop Announces It Has Made $500 Million Investment

GameStop has officially made its first cryptocurrency investment. 

In 2021, a short squeeze of GameStop's stock became one of the biggest topics in the world. The largest video game retailer in the world doesn't have another phenomenon on its hands, but it did go viral because of Wednesday's announcement. 

GameStop revealed that it purchased over $500 million worth of Bitcoin. The company confirmed the purchase of 4,710 Bitcoin with a statement on social media. 

This purchase isn't that surprising.