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GameStop Corp has chosen Bitcoin as one of its treasury reserve assets. The company carried out a confidential offer for $1.3 billion of convertible senior notes. General corporate purposes that encompass Bitcoin acquisitions will use the raised funds.
The move aligns GameStop with other companies holding Bitcoin as a reserve asset. Strategy, formerly MicroStrategy, has been a major Bitcoin investor since 2020. Some analysts are calling GameStop’s approach a "lite" version of Strategy’s aggressive Bitcoin strategy.
The company experiences falling sales alongside aggressive competition from digital gaming industries. CEO Ryan Cohen has dedicated his efforts toward organizational restructuring. In 2024, GameStop closed 590 U.S stores and had remained with 3,203 stores globally as of February 1st, 2025.
The retailer has also been investing outside traditional retail operations. In December 2023, GameStop's board approved an investment policy allowing equity investments. Cohen has authority over the company’s investment portfolio.
Bitcoin adoption by corporations has increased. Adam O’Brien, CEO of Bitcoin Well Inc., believes Bitcoin gives companies time to innovate. Japanese firm Metaplanet has also adopted Bitcoin as a core treasury asset.
Michael Saylor, executive chair of Strategy, welcomed GameStop’s Bitcoin move. He posted a picture with Cohen on social media, signaling support.
GameStop ended Q4 with $4.775 billion in cash and securities, a significant increase from the previous year. The company posted its third consecutive quarterly profit.
Wedbush raised GameStop’s price target from $10 to $11.50. Analysts recognized the company’s financial discipline but maintained an underperform rating. GameStop’s stock has surged 115.3% in the past year. This performance has outperformed the S&P 500’s 8.8% gain.
With Bitcoin investments and restructuring plans, GameStop is ready to spearhead a new course. Its long-term impact remains uncertain.
