GameStop purchased 4,710 Bitcoins for $513 million on May 28.
GameStop's stock has risen 30% over the past month and is trading at $36.30 in pre-market.
With this purchase, GameStop joins the growing list of corporate holders of Bitcoin, now numbering 113 public companies, with MicroStrategy leading with 580,000 BTC.
Other companies like Metaplanet, Blockchain Group, and Blackstone have also made significant Bitcoin investments recently, indicating a trend of corporations moving into the crypto market.