Video Game Retail Giant Gamestop, Bitcoin (BTC) as a reserve asset announced that it has added. This step means a serious transformation in the company’s financial strategies, while officially introduced Gamestop into the crypto currency world.
Gamestop entered a new investment period with Bitcoin
According to the official statement of the company, Gamestop approved the authority to make Bitcoin investment with the decision of the Board of Directors unanimously. With this decision, the company will be able to direct some of the cash reserves or financing revenues to Bitcoin. The company announced that it has not set a higher limit on Bitcoin purchases and signaled more BTC purchases in the future.
This decision of Gamestop came after some speculation at the beginning of the year. CEO Ryan Cohen’s meeting with Microstrategy’s president Michael Saylor had a harbinger of this strategic step. Microstrategy is known as a company with Bitcoin of billions of dollars, and this model was inspired by other major companies such as Tesla and Block. Gamestop has now written his name on this list.
Crypto move created investor confidence
Gamestop announced this decision immediately after a challenging financial period. The company’s last quarter income decreased to $ 1.28 billion compared to last year, but 131.3 million dollars has managed to announce a net profit. Gamestop, who took the third time in a row, gave reassuring to investors with this performance.
Following the announcement, there was a rapid increase in the company’s share value. Analysts think that the Bitcoin decision will make Gamestop a actor not only in the game world but also in the crypto money market. For individual investors who believe in crypto currencies, this move can bring Gamestop to an interesting position.
Is it the new step of digital transformation?
The addition of Bitcoin to Gamestop reserves is also interpreted as part of the company’s digitalization targets. Although product sales are not planned with Bitcoin for the time being, it is possible that steps will be taken in the future. This strategy can carry the company to a more innovative position both in the game and the financial world.
With Bitcoin’s more and more accepted accepting, this decision of Gamestop is considered an important signal in the market. The next steps of the company, which sees crypto assets not only as an investment tool, but also as part of digital transformation, will be closely monitored.
