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

GameStop said in a filing it acquired 4,710 bitcoins, its first bitcoin purchase since unveiling its plans in March to invest in the digital asset.

GameStop says it has purchased roughly half a billion dollars’ worth of Bitcoin. That sent share prices lower as investors shrugged off the latest business strategy. Analysts have questioned why stockholders should support this plan.

Vice President JD Vance is speaking Wednesday at a Bitcoin conference, marking the Trump administration's latest overture to the cryptocurrency industry — a once-fringe business that President Trump and his allies have embraced in recent months.

Trump Media says the purchases will "create synergies" and protect the company "against harassment and discrimination."

The US president is a crypto booster — and the faithful went to America’s gambling capital to celebrate Eric Trump, left, and Donald Trump Jr at the Bitcoin conference in Las Vegas. The president’s sons have launched a series of crypto endeavours over the past year © Ronda Churchill/Bloomberg Inside the Las Vegas bitcoin party: ‘Whales’,