GameStop announced on Wednesday that it bought 4,710 Bitcoin, which is worth over $500 million at the time of the purchase. The video game retail chain

GameStop invested $512.6 million in bitcoin, with the price of bitcoin being $108,837. The world's largest cryptocurrency has recently risen strongly, reaching a near-record $112,000 last week. Easing trade tensions and Moody's downgrading of the US credit rating have further fueled investor interest in bitcoin,

GameStop on Wednesday announced it has bought 4,710 bitcoin, worth over $500 million, as the video game retailer makes its first major foray into cryptocurrency. GameStop's stock price jumped 92 cents,