The game retail giant Gamestop evaluates adding Bitcoin to its balance sheet. Although there has not yet been a definite decision, CEO Ryan Cohen shared with the founder of Microstrategy Michael Saylor, strengthened these rumors. However, sources say that Saylor is not directly involved in Gamestop’s investment decisions.
Gamestop’s Bitcoin Strategy
According to reports, Gamestop analyzes Bitcoin’s financial strategy. Company executives assess the advantages of adding Bitcoin to their reserves as an institutional asset. Inspections are made on how this decision will comply with the company’s long -term investment policies.
The rumors of Bitcoin of Gamestop raised the stock prices rapidly. Company shares increased up to 20 percent in post -overtime transactions. This shows that investors have high interest in crypto currencies. If the company approves Bitcoin investment, a significant change may be experienced in its financial strategy.
Gamestop’s crypto money history
Gamestop had previously stepped into the crypto money market. In 2022, the company started a crypto wallet that supports Bitcoin, Ethereum and NFT. The company continues to follow the changes in the sector closely.
The company’s balance sheet currently has a cash reserve of $ 4.6 billion. Within the scope of the updated investment policy in December 2023, Ryan Cohen and two independent board members were authorized to manage the company’s asset management. However, the additional approval of the board of directors is required for Bitcoin investment.
Companies that add Bitcoin to the balance sheet
If Gamestop adds Bitcoin to his balance sheet, he will be among the public companies that make this move. Microstrategy has purchased 471,000 BTCs so far and has become the largest corporate investor in this field.
Microstrategy’s Bitcoin strategy increased the company’s share price by more than 400 percent in one year. Companies such as Kulr and Idemednet have similarly turned to Bitcoin investments. The fact that Gamestop takes such a step can lead to more publicly -open company to consider Bitcoin as an institutional asset. This development can be an important turning point for Bitcoin’s more common in company balance sheets. Gamestop’s decision can create a new mobility in the crypto markets.
