$BTC
GameStop has announced plans to add Bitcoin as a treasury reserve asset, joining other companies like MicroStrategy and Tesla in holding Bitcoin ¹ ². This decision was made after the company's board of directors unanimously approved an update to its investment policy.
As of the end of 2024, GameStop reported $5.355 billion in current assets, but it didn't disclose how much of this capital would be directed toward Bitcoin purchases ³. The company also mentioned that it may sell any Bitcoin it acquires, and it hasn't set a maximum amount of Bitcoin it may accumulate.
GameStop's move into Bitcoin is part of its efforts to diversify its reserve assets beyond traditional cash. The company has been struggling to reinvent itself, and this strategic pivot could help stabilize its declining core business ⁴.
It's worth noting that GameStop's stock price rose 15% in pre-market trading after the announcement, and the company's shares have gained 6.3% in after-hours trading ² ⁵.
https://cryptobriefing.com/gamestop-bitcoin-reserve-plan