Ryan Cohen Ups GameStop Stake With $10.8M Share Buy Following Bitcoin Treasury Strategy

GameStop CEO and Chairman Ryan Cohen has reaffirmed his commitment to the company’s new bitcoin-focused strategy by scooping up $10.78 million worth of additional GME shares.

A filing with the U.S. Securities and Exchange Commission on Thursday revealed Cohen acquired 500,000 shares at $21.55 each, bringing his total stake in the video game retailer to 37,347,842 shares — about 8.4% of GameStop’s outstanding stock.

The move comes just days after GameStop closed a $1.5 billion capital raise through convertible notes. The company said the bulk of that capital will be allocated to purchasing bitcoin as part of a broader plan to hold the cryptocurrency as a treasury reserve asset.

Cohen’s stock purchase appears to signal personal confidence in both the firm’s strategic shift and the long-term potential of BTC holdings.

Despite a 7% drop in GME shares on Thursday, triggered by broader market jitters over Trump’s sweeping tariff announcement, the stock showed early signs of recovery in Friday’s premarket session.