GameStop CEO Ryan Cohen Buys $10.8M in Shares Following Bitcoin Treasury Move
GameStop (GME) CEO and Chairman Ryan Cohen has expanded his stake in the video game retailer, just days after the company completed a $1.5 billion capital raise earmarked primarily for bitcoin purchases.
In a Thursday filing with the U.S. Securities and Exchange Commission (SEC), Cohen disclosed the purchase of 500,000 additional shares of GameStop’s Class A common stock at an average price of $21.55 per share—bringing the total transaction value to approximately $10.78 million.
Following the buy, Cohen now holds 37,347,842 shares, or roughly 8.4% of the company’s outstanding stock.
The timing aligns with GameStop’s recent strategic pivot. In late March, the board approved a plan to allocate a portion of its cash reserves to bitcoin, signaling a move toward digital assets as part of its treasury strategy. To fund the effort, GameStop issued $1.5 billion in convertible notes—a raise that closed earlier this week.
While GME shares slid more than 7% on Thursday amid a broader market sell-off triggered by President Trump’s tariff escalation, the stock showed signs of recovery in premarket trading Friday.
