GameStop (GME) Updates Investment Policy to Include Bitcoin Holdings

GameStop has officially revealed it will accept Bitcoin as one of the assets of its treasury reserves. This came after the company’s board of directors gave it the green light

GameStop (NYSE:GME) has officially revealed it will be accepting Bitcoin as one of the assets of its treasury reserves, following the company’s board of directors giving it the green light as disclosed along GameStop’s fourth-quarter earnings.

The gaming company joins the list of other publicly listed firms embracing a Bitcoin strategy.

GameStop Updates Investment Policy to Include Bitcoin Holdings

In a recent development, GameStop has modified its investment policy to allow for the inclusion of Bitcoin within its corporate treasury allocation. Company officials confirmed this adjustment in their earnings statement for the fourth quarter of fiscal year 2024.

GameStop’s board of directors has unanimously approved an amendment to the company’s investment policy, granting it the authority to hold digital assets as part of its balance sheet.

This modification, disclosed in GameStop’s fourth-quarter earnings filing, represents a strategic shift in treasury management and aligns with the company’s evolving financial framework.

As of the end of 2024, GameStop reported having $5.355 billion in current assets. The company did not specify how much of this capital would be allocated toward Bitcoin purchases.

Following the announcement, shares of GME experienced a 5.9% increase during after-hours trading.

Public Signals From CEO Ahead of Announcement

GameStop CEO Ryan Cohen had given early indications of interest in Bitcoin prior to the formal announcement. In February, Cohen posted an image of himself with MicroStrategy (NASDAQ:MSTR) Executive Chairman Michael Saylor at an event at Mar-a-Lago.

The photo, which sparked discussion among social media users, led to speculation about GameStop shifting toward a Bitcoin strategy.

Following the post, Matt Cole, CEO of Strive Asset Management, penned a letter to Cohen, urging GameStop to consider investing a portion of its cash into Bitcoin. Strive Asset Management holds a stake in GameStop through its exchange-traded funds.

Later, Cohen posted “Letter received” on his official account.

Companies Applying Bitcoin Strategy In Their Investments

With this update, GameStop joins a growing list of publicly traded companies adopting a Bitcoin strategy. Firms like MicroStrategy and Tesla (NASDAQ:TSLA) previously introduced Bitcoin to their balance sheets, and GameStop now joins them in diversifying its reserve assets beyond traditional cash.

However, the company did not confirm a timeline for Bitcoin purchases or the total allocation planned. The update reflects a shift in corporate asset management strategies being adopted across various industries.

Earlier this year, auto tech firm and Tesla supplier Worksport announced the addition of Bitcoin (BTC) and XRP to its treasury reserves. The company made a six-figure investment and expressed a long-term commitment to its cryptocurrency strategy.

Meanwhile, MicroStrategy continued its aggressive Bitcoin accumulation, acquiring 6,911 BTC for $584 million, pushing its total holdings to 506,137 BTC—over 2% of Bitcoin’s total supply.