GameStop Adopts Bitcoin as Treasury Reserve Asset, Shares Rise 10%

GameStop Corp. has officially announced that it will adopt Bitcoin as a treasury reserve asset, following a unanimous approval from its board of directors. This decision was disclosed alongside the release of the company's fourth-quarter earnings. GameStop becomes one of the latest publicly listed companies to incorporate Bitcoin into its corporate investment strategy. As of the end of 2024, GameStop reported $5.355 billion in current assets, although the specific amount allocated to Bitcoin purchases was not disclosed.

GameStop has formally updated its investment policy to include Bitcoin as part of its treasury reserve. This update allows the company to allocate a portion of its cash and cash equivalents toward Bitcoin holdings. The move was confirmed in a statement issued with the company's earnings report for the fourth quarter of 2024. This strategic change in treasury management aligns with GameStop's evolving financial framework and its efforts to diversify its investment portfolio.

GameStop CEO Ryan Cohen had previously hinted at the company's interest in Bitcoin. In February 2025, Cohen posted an image of himself with MicroStrategy Executive Chairman Michael Saylor at an event held at Mar-a-Lago. This photo sparked speculation about GameStop's potential shift toward a Bitcoin strategy. Following the post, Matt Cole, CEO of Strive Asset Management, sent a letter to Cohen encouraging GameStop to consider investing a portion of its cash into Bitcoin. Strive Asset Management holds a stake in GameStop through its exchange-traded funds. Cohen later acknowledged receiving the letter on his official account, further fueling public interest in the matter.

GameStop's decision to invest in Bitcoin is part of a broader trend among corporations exploring alternative investment strategies to enhance their financial resilience. By diversifying its treasury reserves with Bitcoin, GameStop aims to capitalize on the growing acceptance and potential of cryptocurrencies in the financial landscape. This move not only positions GameStop as a forward-thinking company but also aligns with the actions of other companies that have chosen to diversify their treasury reserves with cryptocurrencies.

GameStop's foray into cryptocurrencies is part of CEO Ryan Cohen's broader efforts to revitalize the struggling brick-and-mortar business. Under Cohen's leadership, GameStop has focused on cost-cutting and operational streamlining to ensure profitability. The company acknowledged the potential risks associated with cryptocurrency investments, stating that Bitcoin is a highly volatile asset with significant price fluctuations. In a Securities and Exchange Commission filing, GameStop noted that its Bitcoin strategy has not been tested and may prove unsuccessful.

The announcement of GameStop's Bitcoin investment coincided with the release of its fourth-quarter results, which showed a net income of $131.3 million, more than double the $63.1 million earned in the same quarter last year. This positive financial performance, coupled with the strategic move into cryptocurrencies, has been well-received by investors. The company's shares rose in after-hours trading following the news, reflecting investor optimism about the new direction.

GameStop's decision to add Bitcoin as a treasury reserve asset is a strategic move that underscores the company's commitment to innovation and financial prudence. By diversifying its treasury reserves with Bitcoin, GameStop aims to capitalize on the growing acceptance and potential of cryptocurrencies in the financial landscape. This move not only positions GameStop as a forward-thinking company but also aligns with the broader trend of corporations exploring alternative investment strategies to enhance their financial resilience.