#GameStopBitcoinReserve

GameStop is making a significant move into the cryptocurrency space by adding Bitcoin to its treasury reserves. The company's board of directors has unanimously approved this decision, which is part of its updated investment policy.¹ ² ³ This move allows GameStop to hold Bitcoin and US dollar-denominated stablecoins as part of its balance sheet.

GameStop's decision to add Bitcoin to its reserves is a strategic move, especially considering the company's challenges in its core business. The video game retailer has been facing increased competition from digital game downloads, and this pivot could help stabilize its financial position.

The company has not disclosed the exact amount of Bitcoin it plans to acquire or when it will start buying. However, it's worth noting that GameStop held $4.775 billion in cash, cash equivalents, and marketable securities at the end of the fourth quarter.

This move puts GameStop alongside other companies like MicroStrategy and Tesla, which have also added Bitcoin to their treasury reserves.