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GameStop (GME) has made a bold move by adopting a bitcoin treasury strategy. The company announced alongside its fourth-quarter earnings report that its board has unanimously approved adding bitcoin as a reserve asset. This decision marks a significant step in the company’s efforts to modernize its financial strategy.
CEO Ryan Cohen sparked speculation earlier this year when he shared a photo with Michael Saylor the Executive Chairman of Strategy (MSTR) at Mar-a-Lago. Shortly after Strive Asset Management CEO Matt Cole sent a letter to Cohen urging GameStop to invest part of its nearly $5 billion cash reserves into bitcoin. Strive believes this could be a game-changing decision for GameStop’s financial future.
The company’s decision to embrace bitcoin reflects growing interest in cryptocurrency among traditional businesses. GameStop’s move positions it to be a leader in the gaming sector’s digital transformation creating exciting new possibilities for the future.
