$BTC #GameStopBitcoinReserve GameStop has announced its decision to adopt Bitcoin as a treasury reserve asset, following unanimous board approval. This strategic move aligns with similar actions taken by companies like Strategy, reflecting a growing trend of corporate investment in cryptocurrencies.

The announcement has positively impacted GameStop's stock, which experienced an 8% increase in extended trading. This surge indicates strong investor confidence in the company's new direction.

This development also contributed to a rise in cryptocurrency prices, with Bitcoin and other digital assets experiencing gains. The broader market responded with a risk-on sentiment, leading to gains in major indices like the S&P 500 and the Nasdaq.

Prior to this decision, GameStop faced pressure from investors to consider allocating a significant portion of its cash reserves to Bitcoin. Strive Asset Management, for example, had advocated for such a move, highlighting the potential benefits of adopting Bitcoin as a reserve asset.

In related news, Binance has launched a proof-of-reserves system for Bitcoin, aiming to enhance transparency and trust within the cryptocurrency exchange industry.