GameStop Adds Bitcoin to Treasury, Boosting Stock Price
- GameStop added Bitcoin to its treasury, causing a 6% increase in stock price.
- The company reported $131.3 million in Q4 net income, more than double the previous year.
- GameStop’s board unanimously approved Bitcoin as a treasury reserve asset.
- Bitcoin’s price remained stable, trading just below $88,000 after the announcement.
- GameStop joins other companies like Tesla and Block in adopting Bitcoin for reserves.
GameStop’s decision to add Bitcoin to its balance sheet led to a significant rise in its stock value and coincided with a strong quarterly financial performance, with net income reaching $131.3 million.
Source (2.6)https://cryptobriefing.com/gamestop-bitcoin-treasury-stock-surge/?rand=59535
