- 📈 GameStop shares surged 15% pre-market following its decision to adopt Bitcoin as a treasury reserve asset.
- 🎮 The move aligns GameStop with industry leaders like MicroStrategy and Tesla, which also hold Bitcoin.
- 💡 This strategic pivot comes amid ongoing challenges in GameStop’s core retail business.
GameStop Joins the Bitcoin Movement
Shares of GameStop (GME) jumped over 15% in pre-market trading today after the gaming retailer confirmed its plan to allocate a portion of its treasury reserves to Bitcoin. According to Yahoo Finance, GME stock climbed to $29.60, up from its previous close of $25.40.
While GameStop’s stock has surged 68% over the past year, it remains down 19% in 2025 amid ongoing market fluctuations.
Board-Approved Bitcoin Strategy
GameStop’s board of directors unanimously approved the Bitcoin initiative, which was revealed during the company’s Q4 earnings report. The retailer may use its existing cash reserves or future financing options to acquire Bitcoin, though specific purchase amounts remain undisclosed.
The company ended Q3 2024 with approximately $4.6 billion in cash, strengthening its ability to make significant investments in digital assets.
Behind the Bitcoin Push
The decision follows growing corporate interest in Bitcoin, particularly since Donald Trump’s election victory in November 2024. His pro-crypto stance has encouraged more companies to explore digital asset investments.
GameStop’s Bitcoin strategy first gained traction in February, when CEO Ryan Cohen met with Michael Saylor, a leading Bitcoin advocate and Executive Chairman of MicroStrategy. However, Saylor was reportedly not involved in GameStop’s internal crypto discussions.
Further backing the initiative, Matt Cole, CEO of Strive Asset Management, urged Cohen to allocate GameStop’s cash reserves to Bitcoin, calling it a chance to become “the premier Bitcoin treasury company in the gaming industry.”
GameStop’s Digital Asset History
This is not GameStop’s first foray into digital assets:
- 🎭 July 2022 – Launched an NFT marketplace, later scaled back in early 2024 due to regulatory concerns.
- 🛠️ Late 2023 – Discontinued its crypto wallet service.
With digital game downloads cutting into GameStop’s traditional retail model, this move could serve as a financial lifeline and a step toward reshaping its future.
Final Thoughts
By integrating Bitcoin into its treasury, GameStop joins a growing wave of companies embracing digital assets to hedge against inflation and financial instability. Whether this bold move will revitalize the gaming retailer’s long-term prospects remains to be seen, but for now, investors are responding with enthusiasm.
