Want to learn Strategy? GameStop spent over $500 million to buy 4,710 bitcoins
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GameStop announced the purchase of 4,710 bitcoins, valued at approximately $513 million, and updated its investment policy to include bitcoin in its financial reserves. The company's cash reserves amount to $4.76 billion, and its stock price rose over 2% following the announcement. The price of bitcoin is $108,900 per coin. The number of publicly traded companies holding bitcoin globally increased from 89 to 113, holding over 800,000 bitcoins, with a market value of approximately $88 billion. The price of bitcoin has risen 50% since early April
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