#GameStopBitcoinReserve GameStop Corp. has announced that its board unanimously approved the addition of Bitcoin as a treasury reserve asset. This strategic pivot aims to diversify the company's investment portfolio and follows the example of firms like Strategy (formerly MicroStrategy), known for significant Bitcoin holdings.

Despite a 28% decline in fourth-quarter revenue to $1.28 billion, GameStop reported a net income of $131.3 million, more than doubling from the previous year. The company's cash reserves increased to $4.775 billion, providing the liquidity to support this cryptocurrency investment.

Following the announcement, GameStop's shares rose by approximately 12%, reflecting investor optimism about the company's new direction. This move aligns with a broader trend of corporate interest in digital assets, further stimulated by recent U.S. government initiatives focusing on the cryptocurrency sector.