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GameStop officially incorporates Bitcoin into its treasury reserve, GME stock price jumps over 12%
Do you remember GameStop, which sparked the "retail investors vs. Wall Street" battle? It's making headlines again! On March 25, the board of directors of this gaming retailer unanimously passed a resolution to officially include Bitcoin in the company's treasury reserve assets. As soon as the news broke, the company's stock price soared 12.23% in after-hours trading, reaching a closing price of $28.58 yesterday.
This transformation is quite dramatic. Just last month, GameStop CEO Ryan Cohen posted a photo with "Bitcoin evangelist" Michael Saylor on social media, and the market sensed something was brewing. Now that the dust has settled, although the company has not disclosed the specific investment amount, it has clearly stated that it will use cash reserves or raise funds through debt/equity to increase its Bitcoin holdings.
GameStop's move actually has a precedent. In the fourth quarter of last year, through aggressive cost-cutting, the company's net profit surged from $63.1 million to $131.3 million. With extra cash on hand, and traditional gaming retail business growth stagnating, choosing Bitcoin as a reserve asset is not difficult to understand.
Interestingly, this is not GameStop's first foray into the crypto space — it launched an NFT wallet in 2022, which was shut down in 2023 due to regulatory uncertainty, but now it seems to be making a comeback.
Looking at the market, GameStop is not alone. From MicroStrategy (now renamed Strategy) holding 506,000 Bitcoins to Japan's Metaplanet becoming an Asian "Bitcoin heavyweight", the trend of public companies allocating Bitcoin has emerged. Even the video platform Rumble has announced a $20 million investment. This corporate-level demand is becoming an important force driving Bitcoin prices.
However, investing in Bitcoin is also a double-edged sword for companies. Strategy's latest financial report shows that its Bitcoin holdings have appreciated by over $10 billion; on the other hand, Bitcoin's high volatility may also bring significant fluctuations to corporate financial reports. Whether GameStop can manage this risk remains to be seen.
In summary, as more listed companies follow suit, the narrative of Bitcoin as a "corporate reserve asset" is accelerating, which may reshape the interaction between cryptocurrencies and traditional finance.
#GameStop #比特币 #企业储备 #上市公司
Do you remember GameStop, which sparked the "retail investors vs. Wall Street" battle? It's making headlines again! On March 25, the board of directors of this gaming retailer unanimously passed a resolution to officially include Bitcoin in the company's treasury reserve assets. As soon as the news broke, the company's stock price soared 12.23% in after-hours trading, reaching a closing price of $28.58 yesterday.
This transformation is quite dramatic. Just last month, GameStop CEO Ryan Cohen posted a photo with "Bitcoin evangelist" Michael Saylor on social media, and the market sensed something was brewing. Now that the dust has settled, although the company has not disclosed the specific investment amount, it has clearly stated that it will use cash reserves or raise funds through debt/equity to increase its Bitcoin holdings.
GameStop's move actually has a precedent. In the fourth quarter of last year, through aggressive cost-cutting, the company's net profit surged from $63.1 million to $131.3 million. With extra cash on hand, and traditional gaming retail business growth stagnating, choosing Bitcoin as a reserve asset is not difficult to understand.
Interestingly, this is not GameStop's first foray into the crypto space — it launched an NFT wallet in 2022, which was shut down in 2023 due to regulatory uncertainty, but now it seems to be making a comeback.
Looking at the market, GameStop is not alone. From MicroStrategy (now renamed Strategy) holding 506,000 Bitcoins to Japan's Metaplanet becoming an Asian "Bitcoin heavyweight", the trend of public companies allocating Bitcoin has emerged. Even the video platform Rumble has announced a $20 million investment. This corporate-level demand is becoming an important force driving Bitcoin prices.
However, investing in Bitcoin is also a double-edged sword for companies. Strategy's latest financial report shows that its Bitcoin holdings have appreciated by over $10 billion; on the other hand, Bitcoin's high volatility may also bring significant fluctuations to corporate financial reports. Whether GameStop can manage this risk remains to be seen.
In summary, as more listed companies follow suit, the narrative of Bitcoin as a "corporate reserve asset" is accelerating, which may reshape the interaction between cryptocurrencies and traditional finance.
#GameStop #比特币 #企业储备 #上市公司
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🚀Bitcoin hit a new all-time high yesterday, and the FASB bill coming into effect may be the main reason for the market frenzy
Bitcoin set a new historical high yesterday, reaching over $106,000. Analysts believe that this surge is mainly due to an accounting bill passed in 2023, which officially took effect yesterday. This bill, proposed by the Financial Accounting Standards Board (FASB) two years ago, now allows all publicly traded companies in the United States to include Bitcoin on their balance sheets.
The previous accounting bill only allowed assets to be valued at the purchase price at the time of acquisition, but after the new FASB bill was passed, companies can use the current market value of the assets for valuation. For example, MicroStrategy purchased Bitcoin at an average price of $60,000, and with the current market price exceeding $100,000, they could achieve about a 70% return.
Under the old accounting method, companies could only calculate the asset value based on the purchase price, but now the appreciation is also included. Therefore, as the value of Bitcoin grows over time, the financial performance of these publicly traded companies can be reflected in their financial reports.
Currently, many companies hold Bitcoin, including MicroStrategy, Tesla, and Block (formerly Square). After the implementation of this FASB bill, we will see the profits these companies gain from their Bitcoin asset allocation in the next financial reporting period. This will also lead Wall Street analysts to reassess the stock values of these companies.
In the long run, as long as Bitcoin is on an upward trend, companies holding Bitcoin will show positive effects in their financial reports and stock prices. Therefore, the implementation of the FASB bill may encourage more publicly traded companies or businesses to include Bitcoin in their asset allocation over the next year.
However, Bitcoin experiences cyclical fluctuations every four years and will inevitably encounter bear markets. The key is whether investors can stick to a DCA strategy, like MicroStrategy, and continue to purchase Bitcoin during bear markets, which will also be a crucial factor in whether investors can profit in the long term.
What are your thoughts on the impact of the FASB bill coming into effect on Bitcoin prices? Will this affect publicly traded companies' investment decisions regarding Bitcoin?
#比特币新高 #FASB #资产负债表 #上市公司 #投资策略
Bitcoin set a new historical high yesterday, reaching over $106,000. Analysts believe that this surge is mainly due to an accounting bill passed in 2023, which officially took effect yesterday. This bill, proposed by the Financial Accounting Standards Board (FASB) two years ago, now allows all publicly traded companies in the United States to include Bitcoin on their balance sheets.
The previous accounting bill only allowed assets to be valued at the purchase price at the time of acquisition, but after the new FASB bill was passed, companies can use the current market value of the assets for valuation. For example, MicroStrategy purchased Bitcoin at an average price of $60,000, and with the current market price exceeding $100,000, they could achieve about a 70% return.
Under the old accounting method, companies could only calculate the asset value based on the purchase price, but now the appreciation is also included. Therefore, as the value of Bitcoin grows over time, the financial performance of these publicly traded companies can be reflected in their financial reports.
Currently, many companies hold Bitcoin, including MicroStrategy, Tesla, and Block (formerly Square). After the implementation of this FASB bill, we will see the profits these companies gain from their Bitcoin asset allocation in the next financial reporting period. This will also lead Wall Street analysts to reassess the stock values of these companies.
In the long run, as long as Bitcoin is on an upward trend, companies holding Bitcoin will show positive effects in their financial reports and stock prices. Therefore, the implementation of the FASB bill may encourage more publicly traded companies or businesses to include Bitcoin in their asset allocation over the next year.
However, Bitcoin experiences cyclical fluctuations every four years and will inevitably encounter bear markets. The key is whether investors can stick to a DCA strategy, like MicroStrategy, and continue to purchase Bitcoin during bear markets, which will also be a crucial factor in whether investors can profit in the long term.
What are your thoughts on the impact of the FASB bill coming into effect on Bitcoin prices? Will this affect publicly traded companies' investment decisions regarding Bitcoin?
#比特币新高 #FASB #资产负债表 #上市公司 #投资策略
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