NEWSLETTER
The Gamestop CEO, Ryan Cohen, confirmed through the social media platform x that has received a Strive Asset Management proposal that advocates that the company adopte bitcoin (btc) as a reserve asset.
The letter, dated February 24, describes a convincing case for Gamestop to take advantage of its substantial cash reserves, without costs of $ 5 billion, to redefine its position in the market.
From cryptographic wallets to nft: Is it next bitcoin?
Strive asset management <a target="_blank" href="https://seekingalpha.com/news/4413451-gamestop-hears-another-call-to-convert-its-cash-into-bitcoin-holdings” target=”_blank” rel=”noopener nofollow”>suggestions That Gamestop, the world's largest retail game store, is in a unique position to take bold measures in the evolving financial panorama, particularly given its stable balance.
According to reports, this financial strength would provide Gamestop to participate in more “dynamic and potentially lucrative” initiatives, including bitcoin's acquisition as a reserve asset.
Historically, Gamestop's foray into the cryptocurrency and Block chain The space has been mixed. In 2022, the company launched a self -ocustial cryptodaly wallet, allowing customers to administer their digital assets, from cryptocurrencies to non -fungible tokens (nft).
This movement was part of a broader strategy to expand the scope of Gamestop to the digital asset ecosystem, indicating a willingness to innovate and adapt to the changing conditions of the market.
In addition, Gamestop introduced a nft Marketplace later in 2022, built on the Shower 2 layer based on ethereum. This platform aimed to capitalize on the growing interest in digital collectibles and nft.
The company also formed an association with immutable x, another scale solution of Layer 2 based on ethereum, to integrate its global orders book into the Gamestop nft market, further strengthening its presence in the field of digital assets.
Gamestop faces stock struggles
Despite these initiatives, the firm's actions have faced challenges, with actions that decrease 22% in the year in which they will be held. This decline highlights the volatility and market unpredictability, particularly following the phenomenon of meme shares that promoted the price of the company's shares at unprecedented heights in 2021.
Market analysts have intervened in the possible implications of adopting bitcoin. In particular, experts such as Luke Broyles commented that if Gamestop invested $ 5 billion in bitcoin followed by $ 3 billion raised at $ 110,000, the company could accumulate approximately 84,090 bitcoin.
Such strategic movement could position the company as a formidable player in the financial panoramaAccording to the expert, which allows him to diversify his assets and potentially stabilize his financial perspective.
Despite this initiative, bitcoin has seen a remarkable drop with a 15% correction in the monthly period, quoting as low as $ 84,370. This means that the leading market cryptographic has dropped 23% from its record record of $ 109,000 reached in January.
Outstanding image of Dall-E, TrainingView.com graphics
