GameStop Approves Bitcoin as Treasury Reserve Asset in Earnings Report

GameStop (GME) has announced its decision to adopt a bitcoin treasury strategy, adding bitcoin as a treasury reserve asset. This was disclosed alongside its fourth quarter earnings report.

The board of GameStop unanimously approved the addition of bitcoin.
CEO Ryan Cohen's recent interactions with Michael Saylor sparked speculation about a shift toward cryptocurrency.
Strive Asset Management's CEO Matt Cole urged GameStop to invest part of its $5 billion cash reserves into bitcoin.
Cole highlighted the potential for GameStop to lead in bitcoin treasury management within the gaming sector.
Following the announcement, GME shares rose 5.7% in after-hours trading.
Bitcoin is currently trading at $88,500.