GameStop Board Approves Bitcoin as Reserve Asset

GameStop is making a bold move by incorporating Bitcoin into its financial strategy.

The company, best known for its role in the 2021 retail trading frenzy, has officially decided to hold Bitcoin as part of its treasury reserves.

According to recent filings with the SEC, GameStop’s board unanimously approved the decision as part of a broader effort to optimize its liquidity and enhance shareholder value.

The company plans to invest a portion of its cash reserves or future capital raises into Bitcoin, alongside U.S. dollar-pegged stablecoins.

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While no specific limit has been set on how much Bitcoin it may acquire, the company also left room for potential sales of its holdings.

With approximately $4.76 billion in cash, GameStop is following in the footsteps of major corporations like MicroStrategy and Tesla, which have embraced Bitcoin as a strategic asset.

CEO Ryan Cohen had hinted at such a move in the past, and the official announcement has already had an impact, pushing GameStop’s stock up by 6%.

Alexander Stefanov