GameStop has officially added Bitcoin to its treasury reserves. This move follows recent speculation and CEO Ryan Cohen's public association with Bitcoin advocate Michael Saylor. While GameStop hasn't set a maximum Bitcoin holding, it may sell any Bitcoin it acquires.
This decision aligns GameStop with other companies like MicroStrategy, Robinhood, and Coinbase, which are positioning themselves to benefit from a potential crypto-friendly regulatory environment under the Trump administration.
In addition to the Bitcoin news, GameStop reported its fourth-quarter earnings. Revenue declined year-over-year, but the company exceeded earnings expectations. GameStop ended the quarter with a significant increase in cash and marketable securities.