Ryan Cohen makes the insider buy as GME begins with the addition of Bitcoin (BTC)
Ryan Cohen, chairman and CEO of video retailer Gamestop (GME), has increased his stake to the company following firm decision to add bitcoin (BTC) as a reserve of treasury.
According to a Thursday filing In the US Securities and Exchange Commission (SEC), Cohen gained an additional 500,000 Class A sharing company’s stock at $ 21.55 per part, reaching approximately $ 10.78 million.
This purchase raised Cohen’s total handling to 37,347,842 shares, representing about 8.4% of the outstanding gamestop shares, filing shows.
Cohen’s purchase came to the heel of the Gamestop Board to approve a plan in late March to invest a portion of its cash pile in Bitcoin. The firm is also Issued $ 1.5 billion in modified notes to raise funds for BTC’s acquisition plan. The increase of that capital closes earlier this week.
GME shares partially up to premarket trading after falling 7% on Thursday as US stocks collapsed in reaction to President Trump’s tariff announcements.
