Gamestop has officially joined the increasing list of public companies that accepted Bitcoin (BTC) as a reserve presence.
In the March 25 earning report, the game retailer unanimously approved An update in the investment policy that allows BTC to be purchased.
The decision was expected for weeks after publishing a photo with Michael Saylor, especially CEO Ryan Cohen’s Mar-a-lago event, together with Microstrategy) Michael Saylor. This image has created speculations that Gamestop soon reflect the aggressive BTC accumulation of the strategy.
Gamestop, compared to the previous year, only $ 921.7 million as of February 1 $ 4.76 billion dollars of cash and cash equivalent reported. The company is now planning to allocate some part of this capital to BTC and Stablecoins as part of the new Treasury strategy of future debt or equity revenues.
This movement reflects Cohen’s latest calls from the Strive Asset Management CEO CEO Matt Cole, who calls Cohen to benefit from the company’s cash reserves and the company as a leading BTC treasure company in the gaming industry.
Cohen’s response on social media has further increased speculation before the official announcement.
Gamestop goes to Bitcoin Mumin from the breast stock
The movement aligns the Gamestop with a tendency to adopt a wider institutional Bitcoin. Trump follows the last execution order to create a strategic Bitcoin reserve at the federal level and pushed the total of 506,000 coins by adding 6.911 BTC to the strategy balance sheet.
Financials of Gamestop Show a company in the transition. The fourth quarter income has doubled from $ 1.79 billion to $ 1.28 billion annually, while net income has doubled for $ 131.3 million due to aggressive cost reduction and withdrawal from low -performance markets such as Italy and Germany.
Following the approval of the BTC movement, the stock increased approximately 6% in post -hour transactions. The announcement received instant reactions from the crypto field.
Bitgo CEO Mike Belshe swims the idea that the company used time -locked strategies to allocate the majority of its money to BTC and convert it into a long -term crypto reserve. Meanwhile, Jim Cramer from CNBC referred to the field before 2021 and called on the Gamestop to adopt Bitcoin and re -place the retail footprint in the crypto centers.
