Umair
Key Takeaways
- GameStop has added Bitcoin to its treasury, leading to a 6% surge in its stock price.
- The company posted $131.3 million in Q4 net income, more than doubling last year’s results.
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GameStop has become the latest public company to add Bitcoin to its balance sheet, confirming long-rumored plans during its fourth quarter earnings release.
The company’s board of directors unanimously approved the decision to adopt Bitcoin as a treasury reserve asset, according to its quarterly filing.
The announcement drove GameStop shares up more than 6% in after-hours trading, confirming a February report about the company’s plans to add Bitcoin and potentially other crypto assets to its reserves.
Bitcoin traded flat on the news, hovering just below $88,000.
The video game retailer may utilize existing cash or capital raised through future debt or equity offerings to invest in Bitcoin, though it has not disclosed specific purchase amounts or allocation limits.
The Bitcoin strategy announcement coincided with GameStop’s improved quarterly performance, as the company reported $131.3 million in net income for the fourth quarter, compared to $63.1 million in the same period last year.
GameStop joins other public companies including Strategy, Tesla, and Block in adopting Bitcoin as a treasury reserve asset.
The move comes as the Trump administration and its new SEC leadership take a more lenient and open stance toward crypto investment.
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