GameStop Eyes Bitcoin Investment After Board Approval
GameStop, the video game retailer that gained meme-stock status, is reportedly preparing to invest in Bitcoin.
The company’s board has unanimously approved a plan to allocate corporate funds toward digital assets, marking a potential shift in its financial strategy.
A CNBC report from March 25 revealed that GameStop intends to use part of its cash reserves or future debt issuances to acquire Bitcoin and US dollar-pegged stablecoins. This move was also reflected in the company’s latest earnings report, which confirmed its intention to hold cryptocurrency under its investment policy.
As of February 1, GameStop’s cash holdings had surged to over $4.77 billion, a significant increase from the $921.7 million it held a year earlier. The retailer reported $1.283 billion in net sales for the fourth quarter and a total of $3.823 billion for fiscal 2024.
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GameStop made headlines during the pandemic when a retail investor frenzy propelled its stock price to unexpected highs. Since then, the company has made efforts to stabilize its financial position, returning to profitability in 2023.
Speculation about GameStop’s potential Bitcoin investment began in February, leading to a surge in its stock price. Interest intensified after CEO Ryan Cohen posted a cryptic social media image with Michael Saylor, the executive chairman of Strategy, a company known for its aggressive Bitcoin accumulation.
Now, over a month later, GameStop appears ready to follow a similar strategy by adding Bitcoin to its balance sheet. Meanwhile, Strategy recently announced another major Bitcoin purchase, bringing its total holdings to 506,137 BTC—roughly 2.4% of the total Bitcoin supply.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
