GameStop said Wednesday that it had made its first Bitcoin purchase, taking a page out of MicroStrategy’s book in pursuit of its own treasury aspirations. The videogame retailer said in a press release that it had snapped up 4,

The purchase, GameStop's first investment in bitcoin, was worth $512.6 million with bitcoin's price of $108,837 Wednesday.

GameStop has taken its first major step into the world of cryptocurrency. On Wednesday, the video game retailer announced it purchased 4,710 bitcoins, spending more than $500 million. The move marks a new chapter for the company, which has been working to shift its focus and stay competitive.