GameStop CEO Cohen Purchases $10M in GME Shares After Bitcoin Acquisition Announcement

Key points:

• Ryan Cohen, the CEO and chairman of GameStop, increased his holdings by buying an additional 500,000 shares for $10.78 million.

• Cohen now holds 8.4% of the company's total shares.

• The acquisition comes after GameStop’s decision to invest in bitcoin as part of its treasury reserve strategy, following the completion of a $1.5 billion capital raise earlier this week.

Ryan Cohen, chairman and CEO of GameStop (GME), boosted his ownership in the company after it announced plans to add bitcoin (BTC) to its treasury reserve assets.

In a filing with the U.S. Securities and Exchange Commission (SEC) on Thursday, Ryan Cohen revealed that he had purchased an additional 500,000 shares of GameStop's Class A common stock at $21.55 per share, totaling around $10.78 million.

This purchase increases Cohen’s total stake to 37,347,842 shares, or approximately 8.4% of the company’s outstanding shares.

Cohen’s acquisition follows GameStop's decision in late March to invest part of its cash reserves in bitcoin. The company also raised $1.5 billion through the issuance of convertible notes to fund its bitcoin acquisition plan, which was completed earlier this week.

Pre-market trading shows a slight uptick in GME shares after a more than 7% drop on Thursday, following a broader market slump triggered by President Trump's tariff announcements.