Gamestop Board Greenlights Bitcoin for Treasury Reservations

Gamestop has officially added to bitcoin (btc) to its treasure reserves after its Board approved the decision.

The measure occurs when the company reported improvements in improved quarterly gains, with net income rather than double in the fourth quarter of 2024.

Quarterly gains profits show profits

The Texas -based company <a target="_blank" href="https://x.com/gamestop/status/1904628096705454308″ target=”_blank” rel=”noopener” data-wpel-link=”external”>announced On March 25, its Board has unanimously approved an update of its investment policy to add bitcoin as a treasure reserve asset. “

In his last prosecutor presentationThe firm revealed that it will use a part of its cash reserves or income of future debt or capital emissions to invest in the number one cryptocurrency. However, the document did not specify the maximum amount it intends to assign.

This decision follows a social media post for CEO Ryan Cohen last month, in which he shared a photo of himself with an outstanding bitcoin defender Michael Saylor, feeding speculations about the possible cryptographic participation.

The last Gamestop report also reflected an improvement in its profits. The company revealed an increase in the gain of the fourth quarter of last year, with a net income rather than duplicate to $ 131.3 million compared to $ 63.1 million during the same period in 2023. This yield was due to cost reduction measures as the company continues to address a slow change in its main hardware and merchandise business of retailers.

The outfit had previously expanded to digital services by offering cryptographic wallets that allowed users to administer their cryptography and nft. However, he closed the service in 2023, citing “regulatory uncertainty” in the industry.

The shares increase 8.27% in the negotiation outside time

Reacting to development, Google Finance data It shows that Gamestop shares increased to $ 27.50, which reflects an 8.27% increase in trade after hours. The action has also registered an increase of 63.87% in the last 12 months.

The video game retailer is adopting a similar approach to the Microstrategy software company, now called strategy, which has invested billions in bitcoin over the years to establish itself as the largest corporate headline of the cryptocurrency.

Other companies that have incorporated the cryptocurrency badge in their treasure strategies include the Rumble Video Exchange Platform, which plans to invest up to $ 20 million, and the Japanese firm Metaplenet, now the largest head of Corporate btc in Asia. bitcoin Mining Company Riot Platforms and the Semler Scientific Medical technology firm have also joined the wave.

Meanwhile, last week, Strategy announced plans to offer 5 million shares of its preferential shares of the Perpetual Strife Spea (PSPS) through a public offer, with the income directed towards new acquisitions of Bitcoins. As of March 2025, the company has approximately 506,137 btc, valued at around $ 44 billion at current market prices.

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