GameStop CEO Cohen Buys $10.8M in Stock as Company Doubles Down on Bitcoin Strategy
GameStop (GME) CEO and Chairman Ryan Cohen has increased his ownership in the company, purchasing 500,000 additional shares worth roughly $10.78 million, according to a new SEC filing released Thursday.
The move follows the company’s recently announced plan to add bitcoin (BTC) to its balance sheet. Just days earlier, GameStop finalized a $1.5 billion capital raise through convertible notes, with most of the proceeds earmarked for BTC acquisitions.
Cohen bought the shares at $21.55 apiece, boosting his total holdings to more than 37.3 million shares—equal to 8.4% of GameStop’s total float.
The stock purchase appears to be a vote of confidence in both the retailer’s pivot toward digital assets and the broader crypto market, even as traditional equities reel from the impact of renewed geopolitical tension. GameStop shares tumbled over 7% Thursday amid a broad sell-off triggered by President Trump’s tariff announcement but edged slightly higher in Friday’s premarket session.
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