GameStop’s purchase of 4,710 bitcoin marks its first cryptocurrency purchase since the videogame retailer announced earlier this year that it would make bitcoin a treasury-reserve asset.

Video game seller GameStop announced it has bought 4,710 bitcoins worth almost $513 million as part of its strategy to invest in cryptocurrency. GameStop's board of directors in March announced its intent to invest in bitcoin to create a reserve asset,

GameStop announced the purchase of 4,710 bitcoins on Wednesday. The video game retailer said in March that it would start amassing crypto.