Breaking: GameStop to Adopt Bitcoin as Reserve Asset
03/26/2025 03:05
The decision has been unanimously approved by the company's board
The decision has been unanimously approved by the company's board
GameStop has amended its investment policy in order to add Bitcoin as a treasury reserve asset.
The company says that the decision to adopt Bitcoin was unanimously approved by the board of directors.
GameStop has followed the playbook of the business intelligence firm Strategy, which has now been copied by a handful of other companies.
The American video game retailer that defined the meme stock mania of early 2021 has a market cap of $11.36 billion.
The bullish news does not come as a surprise. Rumors about GameStop's Bitcoin pivot had been swirling ahead of the company's Q4 earnings.
The company's shares are up by more than 6% in after-hours trading.
The price of Bitcoin is approaching the $89,000 mark on the news, but the market reaction has been rather muted so far.