#GameStopBitcoinReserve GameStop Corp. has announced that its board of directors unanimously approved adding Bitcoin as a treasury reserve asset. This strategic move allows the company to invest a portion of its cash holdings or future financial resources into Bitcoin, without specifying a maximum limit.

The decision aligns with recent engagements between GameStop's CEO, Ryan Cohen, and prominent figures in the cryptocurrency space, including a meeting with Michael Saylor, Executive Chairman of Strategy, a company known for its substantial Bitcoin holdings.

In conjunction with this announcement, GameStop reported its fourth-quarter financial results, revealing net sales of $1.283 billion, a decline from $1.794 billion in the same period the previous year. However, the company achieved a net income of $131.3 million, marking its third consecutive quarterly profit. Following the news, GameStop's stock experienced an 8% rise in extended trading.

This move mirrors a broader trend among public companies adopting Bitcoin as part of their treasury strategies, a path notably pioneered by Strategy. Analysts and investors are closely monitoring how this decision will influence GameStop's financial trajectory and its position within the evolving digital asset landscape.