Gamestop announced today that it will invest in Bitcoin as the origin of the cabinet reserve. This statement came shortly after the Gamestop Q4 2024 profit report, which showed a decrease in sales volume.
Despite this anxious financial report, the Bitcoin advertisement has strengthened the value of the company’s shares of about 6 %. The limited exposure to encryption is expected to enhance the company’s financial situation in 2025.
Will Gamestop follow the Bitcoin’s Microstrategy plan?
Gamestop, an American video and electronics retailer, went out at Crypto and Web3 on several occasions. After pressing the shares driven by Reddit in 2021, the company was open to new financial ecosystems, even if it was not always.
In this direction, the latest press release of Gamestop states that the company will start buying Bitcoin:
“Gamestop announced today that its board of directors has unanimously agreed to an update of its investment policy to add Bitcoin as the origin of the treasury,” the press statement. Claim.
Rumors about Bitcoin’s potential investment in Gamestop since last month. The CEO of the company, Ryan Cohen, was filmed with Michael Sailor, who led his company to become a major carrier in Bitcoin.
Society began to speculate that Silor’s actions could serve as a Gamestop plan, and this was on a good basis.
Gamestop Voice unanimously to buy Bitcoin on the same day, the company released Q4 2024 profits a report. The results were disappointing. The net Q4 Yoy sales decreased by more than half a billion dollars, and sold about $ 1.5 billion less goods in 2024 than 2023.
The expenses decreased, the net income was higher, but these are serious losses.
In other words, Gamestop may have taken a gambling that affects the need with this Bitcoin investment. Although its profit trends were concerned, the company has not surpassed a complete crisis yet.
Meanwhile, since the announcement, the Gamestop price jumped after working hours to 6 %.
Since Bitcoin’s annual growth rate, the fruits of this wager may come against Gamestop. Like Microstrategy, exposure to bitcoin subject to control can help to pay the company’s annual revenues in the upper market. In general, the retail seller may be able to use Bitcoin to stimulate the value of shares while continuing his regular commercial operations.
Disintegration
In adherence to the confidence project guidance, beincrypto is committed to unprepared and transparent reporting. This news article aims to provide accurate information in time. However, readers are advised to independently verify facts and consult with a professional before making any decisions based on this content. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.
