- Main event involves GameStop’s adoption of Bitcoin as a reserve asset, led by CEO Ryan Cohen.
- GameStop plans to utilize $4.8 billion for Bitcoin purchases.
- GameStop shares rose 6% after this announcement.
GameStop has officially announced the addition of Bitcoin to its treasury reserves, following approval from its board of directors. This move aligns GameStop with other companies opting for Bitcoin as a strategic reserve asset.
This announcement marks a significant shift in GameStop’s financial strategy, reflecting broader confidence in Bitcoin among major corporations.
GameStop Corp. (NYSE: GME) has integrated Bitcoin into its treasury as a reserve asset, a decision backed by its board of directors. Approved by CEO Ryan Cohen, the plan involves substantial purchases funded by existing reserves and possible future debt or equity raises.
Market reactions to this strategic shift were evident as GameStop’s shares experienced a rise of over 6% in after-hours trading. This shift in strategy has drawn comparisons with prior decisions by companies like Strategy and Tesla, who similarly invested in Bitcoin. As Matt Cole, CEO of Strive Asset Management, stated, “We believe GameStop has an incredible opportunity to transform its financial future by becoming the premier Bitcoin treasury company in the gaming sector.”
Current Bitcoin data from CoinMarketCap (as of March 25, 2025) indicates a price of $87,782.48 with a market cap of approximately $1.74 trillion. Bitcoin holds a market dominance of 60.64%, with a 24-hour trading volume reaching $29.8 billion. Recent fluctuations saw the Bitcoin price adjust by -0.25% over 24 hours but increased by 6.90% across the previous week.
Expert analysis suggests GameStop’s adoption of Bitcoin could stimulate further mainstream acceptance of cryptocurrency in corporate portfolios. Regulatory scrutiny remains a potential challenge, yet historical trends show an increasing corporate inclination toward Bitcoin as a store of value.