GameStop Joins Corporate Bitcoin Adoption with Strategic Purchase

GameStop Moves Into Bitcoin, Adds BTC to Balance Sheet

GameStop (GME) has officially embraced Bitcoin, announcing that its board has unanimously approved holding BTC as a treasury reserve asset. The decision was revealed alongside the company’s fourth-quarter earnings report, signaling a major step into the digital asset space.

Speculation around a potential Bitcoin purchase had been swirling for weeks, especially after CEO Ryan Cohen posted a photo of himself with MicroStrategy Chairman Michael Saylor at a Mar-a-Lago event.

Adding to the pressure, Strive Asset Management CEO Matt Cole sent a letter to Cohen, encouraging GameStop to use some of its nearly $5 billion cash reserves to buy Bitcoin. Strive, co-founded by Vivek Ramaswamy, holds GME shares through its ETFs.

“GameStop is in a prime position to redefine its financial strategy and become a leader in Bitcoin treasury management within the gaming industry,” Cole wrote.

Cohen’s response— a cryptic tweet saying “Letter received”—only fueled speculation, which has now been confirmed with the company’s latest move.

Following the news, GME shares climbed 5.7% in after-hours trading, while Bitcoin saw a slight boost, rising 0.2% to $88,500.

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