GameStop CEO Ryan Cohen Increases Stake by $10 Million Amid Bitcoin Plans

Ryan Cohen, chairman and CEO of GameStop (GME), increased his stake in the company after it decided to add bitcoin as a treasury reserve asset.

Cohen acquired 500,000 shares of Class A common stock at $21.55 per share for approximately $10.78 million.
His total holdings now stand at 37,347,842 shares, representing about 8.4% of GameStop's outstanding shares.
The purchase follows GameStop's board approval of a plan to invest part of its cash in bitcoin.
The firm issued $1.5 billion in convertible notes to fund its bitcoin acquisition strategy, closing the capital raise earlier this week.
GME shares are slightly up in premarket trading after a previous decline exceeding 7% due to broader market reactions.