The video game retailer, which became a viral sensation among retail traders in 2021, just announced that its board has unanimously approved the move.
GameStop (NYSE:GME) is adding Bitcoin (BTC) to its balance sheet as a treasury reserve asset.
The video game retailer, which became a viral sensation among retail traders in 2021, just announced that its board has unanimously approved the move.
In new SEC filings, GameStop says the move is part of the firm’s strategy to use its liquidity to maximize shareholder value.
“On March 25, 2025, we announced that, as part of our revisions to the Investment Policy, the Board approved the addition of Bitcoin as a treasury reserve asset, alongside U.S. dollar-denominated stablecoins, to diversify the Company’s investment portfolio, and a portion of our cash or future debt and equity issuances may be invested in Bitcoin. We have not set a maximum amount of Bitcoin we may accumulate, and may sell any Bitcoin we may acquire.”
GameStop, which has about $4.76 billion in cash, is following companies like MicroStrategy (NASDAQ:MSTR) and Tesla (NASDAQ:TSLA).
CEO Ryan Cohen has hinted at this plan for months, and today’s announcement triggered a 6% bump in the company’s stock price.
Bitcoin is priced at $87,914 at time of publishing, up 1.2% in the last 24 hours.
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