|

GameStop unveils plan to add Bitcoin as reserve asset

  • GameStop announced that it has updated its investment policy to include Bitcoin as a treasury reserve asset.
  • The company also stated that it would acquire stablecoins as part of its investment policy.
  • GameStop reported that it holds $4.7 billion in cash.

Video game retailer GameStop announced in its Q4 financial report on Tuesday that it would acquire Bitcoin and US Dollar-backed stablecoins as treasury reserve assets.

Bitcoin, stablecoins to be included in GameStop’s treasury reserve

GameStop announced that its board has unanimously approved the acquisition of Bitcoin and stablecoins as treasury reserve assets. According to its Q4 financial report, the company has made changes to its investment policy, allowing the acquisition of certain crypto assets.

"The Company's investment policy permits investments in certain cryptocurrency assets, including Bitcoin and U.S. dollar-denominated stablecoins," the report stated.

GameStop also reported holding $4.7 billion in cash and cash equivalent as of February 1. The company did not report an estimate for its digital assets purchase but could follow in the footsteps of Strategy, which is the largest corporate holder of Bitcoin.

Strategy currently holds 506,137 BTC, which it acquired for an average price of $66,608 per BTC. The firm serves as a model for other companies seeking to add Bitcoin to their treasury reserves.

GameStop could invest some of its cash holdings or capital from upcoming debt and equity issuances into Bitcoin and stablecoins tied to the US dollar.

Meanwhile, Bitwise Chief Investment Officer, Matt Hougan, stated in a Tuesday report that now is the best time in history to buy Bitcoin.

Hougan explained that Bitcoin initially carried significant risks — such as technological uncertainty, unreliable trading platforms and regulatory concerns. However, he noted that these risks have been eliminated over time.

He also argues that the US government's decision to embrace Bitcoin is a strategic move to maintain its dominance in the global financial system. This follows President Donald Trump signing an executive order earlier in the month to establish a Strategic Bitcoin Reserve.

Author

Michael Ebiekutan

With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addition to

More from Michael Ebiekutan
Share:

Editor's Picks

XRP defends $1.30 support as Ripple partners with Arf to bring RLUSD settlement liquidity to XRPL

Ripple holds near recently confirmed support at $1.30 on Friday, as bulls eye a short-term recovery toward $1.40. The remittance token’s upside remains capped by structural levels, suggesting recovery would depend on whether buyers can sustain momentum.

Bitcoin Weekly Forecast: BTC extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot ETFs recording $442.67 million in net inflows through Thursday.

Crypto Today: Bitcoin holds the 50-day EMA as Ethereum and XRP face structural resistance

Bitcoin gradually ticks up on Friday, trading above $81,000. The Crypto King has recently defended structural support near $80,000, reinforcing the prevailing bullish outlook. Ethereum similarly edges higher above $2,400, while Ripple trades above $1.32 after testing support around $1.30.

Pi Network holds modest gains as mixed technicals curb upside

Pi Network (PI) price is up 2% on Friday, showing signs of recovery while the broader cryptocurrency market faces near-term weakness. The crypto market sentiment eases to neutral from bullish amid rising long liquidations.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.