GameStop將比特幣作為國庫儲備資產，寄出股票飆升

視頻遊戲零售商在2021年成為“模因股票”現象的代名詞，對加密貨幣的未來進行了巨大的投資。

GameStop, the video game retailer that became a mainstay of the ‘meme stock’ phenomenon in 2021, is planning to invest in Bitcoin and will hold the cryptocurrency as a treasury reserve asset, the company said in a regulatory filing on Thursday.

該公司在周四的一項監管文件中表示，GameStop是2021年“模因股票”現象的中流台的視頻遊戲零售商，該公司計劃投資比特幣，並將作為財政部資產作為財政部資產。

The company’s move to purchase Bitcoin comes as it reported a fourth-quarter loss and a 22% drop in revenue.

該公司購買比特幣的舉動是據報導，第四季度虧損和22％的收入下降。

GameStop's shares price nearly tripled in after-hours trading.

GameStop的股價在下班後交易幾乎兩倍。

Adopting MicroStrategy’s Bitcoin Playbook: A New Era for GameStop?

採用Microstrategy的比特幣劇本：GameStop的新時代？

GameStop appears to be following Strategy’s approach in accumulating Bitcoin. This business intelligence firm has famously reinvented itself as a corporate Bitcoin accumulator. While Strategy has built its corporate identity around Bitcoin, GameStop’s adoption of the digital asset represents a more experimental move, given its history as a retailer rather than a technology-driven firm. Now, GameStop is using a playbook of its own, hoping to capitalize on the potential of cryptocurrency.

GameStop似乎正在遵循策略積累比特幣的方法。這家商業情報公司已將自己重塑為公司比特幣蓄能器。儘管策略已經圍繞比特幣建立了公司身份，但GameStop對數字資產的採用代表了一個更具實驗性的舉動，因為它是零售商而不是技術驅動的公司。現在，GameStop正在使用自己的劇本，希望利用加密貨幣的潛力。

GameStop is expected to use cash on hand or an unspecified mix of new debt and equity issuances to purchase Bitcoin, according to multiple reports. The extent of GameStop’s capital commitment to Bitcoin remains unclear, but the company appears committed to this strategy. In its earlier filing from February, the company disclosed that it had about $4.8 billion in cash.

根據多項報告，GameStop有望使用現金或未指定的新債務和股權發行的組合來購買比特幣。 GameStop對比特幣的資本承諾範圍尚不清楚，但該公司似乎致力於這一戰略。該公司在2月的早期文件中透露，其現金約為48億美元。

However, skepticism lingers, with some analysts hinting that GameStop’s strategy might be some kind of long-awaited gambit, although its precise implications remain unclear.

但是，懷疑者的持續存在，一些分析師暗示GameStop的策略可能是某種已久的Gambit，儘管其確切的含義尚不清楚。

Cost-Cutting and Profitability: A Broader Strategy

成本削減和盈利能力：更廣泛的策略

GameStop’s Bitcoin investment is part of a broader strategy led by CEO Ryan Cohen. Cohen became a member of GameStop’s board in 2021. He aims to transform the company into a leaner, more profitable business that is less reliant on traditional brick-and-mortar stores. In 2024, GameStop shuttered 590 stores in the United States and expects to close even more in 2025. The measures were taken to cut costs.

GameStop的比特幣投資是首席執行官Ryan Cohen領導的更廣泛戰略的一部分。科恩（Cohen）於2021年成為GameStop董事會成員。他的目標是將公司轉變為更精美，更有利可圖的業務，而不太依賴傳統的實體商店。 2024年，GameStop在美國關閉了590家商店，並預計在2025年關閉了更多商店。採取了削減成本的措施。

That strategic shift comes amid improving financial performance. GameStop had a net income of $131.3 million in the fourth quarter, more than doubling the $63.1 million it reported in the same period a year ago. That was fueled by cost-cutting and higher sales for video game hardware and merchandise. But quarterly revenue was $1.28 billion, down from $1.79 billion a year earlier.

在改善財務績效的情況下，這種戰略轉變即將到來。 GameStop在第四季度的淨收入為1.313億美元，一年前同期報告的6310萬美元翻了一番。這是由於削減成本和更高的視頻遊戲硬件和商品銷售所推動的。但是季度收入為12.8億美元，低於去年同期的17.9億美元。

Challenges with GameStop’s Bitcoin Investment: Spotting the Risk and Volatility

GameStop的比特幣投資挑戰：發現風險和波動性

While the potential rewards can be immense, GameStop recognizes the risks behind investing in Bitcoin. The company acknowledged the volatility surrounding cryptocurrency prices. GameStop said in its SEC filing that its strategy “has not been tested and may prove unsuccessful“.

儘管潛在的獎勵可能是巨大的，但GameStop認識到投資比特幣背後的風險。該公司承認圍繞加密貨幣價格的波動性。 Gamestop在SEC申請中表示，其戰略“尚未經過測試，可能證明沒有成功”。

In December, Microsoft’s shareholders rejected a proposal related to cryptocurrency adoption, highlighting the uncertainties surrounding corporate investment in digital assets.

12月，微軟的股東拒絕了一項與採用加密貨幣有關的提案，強調了圍繞數字資產投資的不確定性。

Key Players in the GameStop Strategy

GameStop策略的主要參與者

Ryan Cohen, the co-founder of pet e-commerce site Chewy, purchased a stake in GameStop in 2020. It was just before the company became the poster child of the meme stock trading craze.

寵物電子商務網站Chewy的聯合創始人瑞安·科恩（Ryan Cohen）於2020年購買了GameStop的股份。就在該公司成為Meme股票交易熱潮的海報孩子之前。

Investors flocked into the stock, believing Cohen’s online retail expertise could modernize the company. GameStop announced crypto wallets for managing cryptocurrencies and NFTs in 2022. That service was discontinued in 2023, with the company saying “regulatory uncertainty” had led to the decision.

投資者蜂擁而至，認為科恩的在線零售專業知識可以使公司現代化。 GameStop宣布了Crypto錢包，用於在2022年管理加密貨幣和NFT。該服務在2023年停產，該公司表示“監管不確定性”導致了這一決定。

In December 2023, GameStop’s board approved a new investment framework. That policy gives Ryan and two independent directors the authority to oversee the company’s investment portfolio. All investing must be conducted under the guidelines set forth in that policy, unless the committee votes unanimously or the full board approves by majority vote.

2023年12月，GameStop的董事會批准了一個新的投資框架。該政策使瑞安（Ryan）和兩名獨立董事擁有監督公司投資組合的權力。所有投資必鬚根據該政策中規定的準則進行，除非委員會一致一致投票，否則全部董事會以多數票的投票批准。

Future for GameStop: Implications of the Bitcoin Investment

GameStop的未來：比特幣投資的影響

For GameStop, embracing Bitcoin is a move that could change the company for the better. Whether this gamble will pay off remains to be seen. It could reinvigorate its business and usher in a new era of growth, or it could expose the company to greater risk and instability. It is a bet that has certainly piqued the interest of the financial world.

對於GameStop來說，擁抱比特幣是可以更好地改變公司的舉動。這場賭博是否會得到回報還有待觀察。它可以重振其業務並引入增長的新時代，或者可能使公司面臨更大的風險和不穩定。這是一個肯定激起了金融界利益的賭注。