GameStop shares rise as retailer meme stock buys first bitcoin batch, scooping up $500 million
1. GameStop purchased 4,710 bitcoins for $512.6 million. 2. Bitcoin's recent surge highlights its appeal as an alternative investment. 3. Shares rose nearly 3% after the bitcoin investment news. 4. GameStop's focus is on profitability and revamping its business strategy. 5. Cohen plans to continue crypto investments without a set limit.