GameStop unveils plan to add Bitcoin as reserve asset

Source Fxstreet
  • 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.

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