GameStop has officially joined the Bitcoin wave, with its board unanimously approving Bitcoin as a treasury reserve asset. This strategic move positions GameStop alongside major corporations like Strategy (formerly MicroStrategy), signaling a strong commitment to digital asset investment.
The announcement coincided with GameStop’s latest financial report, highlighting robust Q4 earnings—net income doubled to $131.3M despite revenue falling to $1.28B from $1.79B. Investors quickly welcomed the news, driving GameStop shares up over 5% in after-hours trading.
This pivot to Bitcoin underscores GameStop’s proactive shift in strategy, aiming to navigate the evolving retail landscape and tap into the booming crypto market.