Bitcoin Boost: GameStop Adopts Treasury Strategy

GameStop Incorporates Bitcoin as a Treasury Reserve Asset

• GameStop updated its investment policy to include cryptocurrencies like Bitcoin.
• The company announced this change in its 2024 annual report filed with the SEC.
• GameStop’s stock, trading under the GME ticker, closed at $25.40 after a 0.82% loss but gained 6.3% after-hours.
• The board of directors unanimously approved the policy update on March 18.
• As of February 1, GameStop held $4.7 billion in cash and equivalents, up from $921 million a year earlier.

GameStop has amended its investment policy to include Bitcoin as a permissible asset, as detailed in their latest SEC filing. The company’s stock showed positive movement in after-hours trading following this announcement.