GME Surges as CEO Cohen Invests $10M in Company Shares, Signals Bitcoin Adoption Plans

GameStop’s Cohen Doubles Down with $10.8M Share Purchase After Bitcoin Pivot

GameStop CEO Ryan Cohen is backing up his company’s bold bitcoin bet with a personal one of his own.

In a regulatory filing published Thursday, Cohen revealed the purchase of 500,000 additional GameStop (GME) shares at an average price of $21.55, spending approximately $10.78 million. The move boosts his total holdings to over 37.3 million shares, or 8.4% of the company’s outstanding stock.

The timing is notable: GameStop earlier this week wrapped up a $1.5 billion capital raise through convertible notes, with plans to funnel much of that into bitcoin. The initiative follows a late-March board decision to begin holding BTC as part of its corporate treasury strategy.

Cohen’s stock buy underscores his confidence in the company’s shift toward digital assets, even as broader markets remain under pressure. GME fell over 7% Thursday amid a wider sell-off tied to President Trump’s new tariff measures but was ticking higher in Friday’s premarket session.