Ryan Cohen, the chairman and CEO of video retailer GameStop ( GME ) , increased his stake in the company following the firm's decision to add bitcoin (BTC) as a treasury reserve asset.

According to a Thursday filing to the U.S. Securities and Exchange Commission (SEC), Cohen acquired an additional 500,000 shares of the company's Class A common stock at $21.55 per share, totaling approximately $10.78 million.

This purchase elevates Cohen's total holdings to 37,347,842 shares, representing about 8.4% of GameStop's ( GME ) outstanding shares, the filing shows.

Cohen's purchase comes on the heels of GameStop's ( GME ) board approving a plan in late March to invest part of its cash pile in bitcoin. The firm also issued $1.5 billion in convertible notes to raise funds for its BTC acquisition plan. That capital raise closed earlier this week.

GME shares are slightly up premarket trading after falling over 7% on Thursday as U.S. stocks plunged in reaction to President Trump's tariff announcements.