- Polymarket places 53% odds on GameStop acquiring more Bitcoin before July ends, fueling investor speculation.
- GameStop raised $2.7B, potentially allocating $700M more into Bitcoin without breaching disclosure thresholds.
- CEO Ryan Cohen backs Bitcoin as a treasury reserve, citing its scarcity and decentralization over traditional assets.
Market speculation continues to grow as GameStop’s next Bitcoin move draws attention from the market. At present, prediction market Polymarket places a 53% probability that GameStop will acquire more Bitcoin before the end of July.
This forecast aligns with increased chatter on social media, following several developments tied to the company’s growing crypto strategy. Despite the odds, no formal statements or filings have confirmed additional Bitcoin purchases since the firm’s last acquisition window closed in mid-June.
$2.7 Billion Raised May Fund Crypto Holdings
GameStop recently raised a total of $2.7 billion through its $2.25 billion convertible note offering. A $450 million greenshoe option was exercised in full, according to a U.S. SEC filing.
The company has stated that the capital will support corporate investments, which may include Bitcoin acquisitions. The funds raised allow GameStop to deploy nearly $700 million more toward Bitcoin purchases without exceeding 10% of its assets under management.
This level is key, as staying below it may not trigger further disclosure requirements. Social media discussions continue to highlight this flexibility, noting the company’s prior indication that it may allocate up to $1.5 billion into Bitcoin.
Q2 Bitcoin Accumulation Has Already Occurred
Between May 5 and June 10, GameStop acquired 4,710 BTC, according to a post by X user bad robot. The second quarter ends in July, leaving a potential three-week window for further purchases before August begins.
Sentiment among GameStop investors remains split. In a previous poll from April 27, over 56% believed the company would not purchase any Bitcoin. That forecast proved incorrect. A follow-up Q2 poll closed with 48% voting “No” for further acquisitions. These changes in sentiment highlight a growing debate around GameStop’s treasury strategy.
Company Maintains Open Approach on BTC Reserves
In late March, GameStop disclosed plans to hold Bitcoin as a treasury reserve asset. CEO Ryan Cohen spoke about the strategy during a pre-recorded message at the Bitcoin 2025 Conference in Las Vegas.
Cohen cited Bitcoin’s scarcity, portability, and decentralized structure as core reasons for adopting the asset. He compared it favorably to gold as a hedge against currency devaluation and systemic risks. Although GameStop drew comparisons to MicroStrategy’s strategy, Cohen clarified that the company is pursuing its own unique path.
GameStop’s continued investment in Bitcoin forms part of a larger corporate strategy under Cohen’s leadership. The company remains focused on financial efficiency and capital deployment flexibility as it navigates changing market outlook.
