GameStop has officially added Bitcoin (BTC) to its treasury reserves after its board approved the decision. This significant move comes alongside the company’s recent report indicating improved quarterly earnings, with net income more than doubling in the fourth quarter of 2024.
The Texas-based company announced on March 25 that its board has “unanimously approved an update to its investment policy to add Bitcoin as a treasury reserve asset.” In its latest fiscal filing, GameStop disclosed that it plans to allocate a portion of its cash reserves or proceeds from future debt or equity issuances to invest in Bitcoin. However, the document did not specify the maximum amount intended for this investment.
This decision follows a notable social media post by CEO Ryan Cohen, who recently shared a picture of himself with prominent Bitcoin advocate Michael Saylor, igniting speculation regarding the company’s potential crypto involvement.
Quarterly Profits Show Gains
In addition to the excitement surrounding its new treasury strategy, GameStop’s latest report highlighted a significant improvement in its earnings. The firm revealed that its net income for the fourth quarter of last year skyrocketed to $131.3 million, compared to $63.1 million during the same period in 2023. This remarkable performance is attributed in part to cost-cutting measures as GameStop continues to navigate a challenging retail environment, particularly in the video game hardware and merchandise sectors.
Previously, GameStop has sought to expand its digital services by introducing crypto wallets, enabling users to manage their cryptocurrencies and NFTs. However, the company ceased operations of this service in 2023, citing “regulatory uncertainty” within the industry.
Shares Rise 8.27% in After-Hours Trading
Following the announcement, Google Finance data reflected a positive reaction, with GameStop shares rising to $27.50—an 8.27% increase in after-hours trading. The stock has shown a remarkable 63.87% increase over the past year, signaling growing investor confidence.
GameStop’s strategy mirrors that of software company MicroStrategy, which has invested billions in Bitcoin and is recognized as the largest corporate holder of the cryptocurrency. Other firms embracing Bitcoin in their treasury strategies include video-sharing platform Rumble, investing up to $20 million, and the Japanese firm Metaplanet, now the largest corporate BTC holder in Asia. Bitcoin mining company Riot Platforms and medical technology firm Semler Scientific have also joined the trend.
In a parallel move, MicroStrategy recently announced its plans to offer 5 million shares of its Series A Perpetual Strife Preferred Stock (PSPS) publicly, with proceeds earmarked for further Bitcoin acquisitions. As of March 2025, the company holds approximately 506,137 BTC, valued at around $44 billion at current market prices.
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