Gamestop officially joined the growing list of public companies that adopt Bitcoin (BTC) as a backup asset.
In the profit report on March 25, the retail seller confirmed that its council was unanimously consent Update its investment policy, allowing BTC to buy.
The decision was expected for weeks, especially after CEO Ryan Cohen published a picture alongside Michael Sailor, former Microstrategy, at the Mar-A-Laggo event. This image created speculation that Gamestop can soon reflect the aggressive BTC accumulation of the strategy.
Gamestop reported that it carries $ 4.76 billion in cash and cash rewards from February 1 – from only 921.7 million dollars in the previous year. The company is now plans to customize part of the capital, debt returns or future property rights, at BTC and Stablecoins as part of the new treasury strategy.
This step is frequented by the last calls from Strive Asset Management CEO of Matt Cole, which urged Cohen to take advantage of the company’s cash reserves and the company’s position as BTC Treasury Premier in the Games Sector.
The major response to Cohen’s “message” on social media has fueled speculation before the official announcement.
Gamestop moves from MEME stock to Bitcoin Believer
This step is compatible with Gamestop with a wider direction for Bitcoin’s institutional dependence. The last executive order of the Trump administration follows the establishment of a strategic bitcoin reserves at the federal level and reaches a few days after the addition of the 6911 BTC strategy to its public budget, prompting its total to more than 506,000 coins.
Gamestop Financial Data Show a company in a transition. While the fourth quarter revenues fell to $ 1.28 billion from 1.79 billion dollars on an annual basis, net income was more than twice to $ 131.3 million due to the reduction of aggressive costs and a decline from weak markets such as Italy and Germany.
Its shares increased by approximately 6 % in post -hours trading, after confirming the BTC step. The advertisement extracted immediate reactions from all over the encryption space.
Bitgo Mike Belshe CEO offered the idea that the company should allocate the majority of its money to BTC using time strategies, and convert it into a long -term encryption reserve. Meanwhile, Jim Kramer of CNBC referred to his former stadium from 2021, urging Gamestop to adopt Bitcoin and re -display retail fingerprint in encryption centers.
