- GameStop has announced plans to invest in Bitcoin and stablecoins, following through on earlier hints and potentially mimicking Michael Saylor’s Strategy approach that saw 3,000% stock growth.
- Despite not committing to a specific purchase amount, GameStop’s crypto investment policy sent its stock price up nearly 20% overnight, as traders speculate it could become “the premier bitcoin treasury company in the gaming sector.”
- Bitcoin has gained approximately 10% since early March despite remaining below its January peak of $110,000, with potential corporate adoption serving as a possible catalyst for future growth.
GameStop has officially entered the bitcoin arena, announcing plans to convert a portion of its $4.75 billion cash reserves into cryptocurrency assets. The video game retailer revealed in its fourth-quarter earnings report that it has adopted an investment policy permitting bitcoin and stablecoin purchases, sending its stock soaring nearly 20% overnight as traders speculate it could follow the profitable path blazed by Michael Saylor’s Strategy.
The announcement follows weeks of speculation after GameStop CEO Ryan Cohen posted a photo with Saylor and responded “Letter received” to a proposal from Strive Asset Management. The asset management firm had recommended GameStop transform itself into “the premier bitcoin treasury company in the gaming sector” by converting its substantial cash reserves into bitcoin.
“Welcome to team bitcoin, Ryan Cohen,” Saylor posted to X alongside the photo of the pair. Saylor’s company, until recently known as MicroStrategy, has accumulated approximately 500,000 bitcoin worth $42 billion since beginning aggressive purchases in 2020, which helped drive its stock price up by 3,000%.
While GameStop’s announcement has excited investors, the company stopped short of committing to a specific bitcoin purchase amount. Its new policy states that “if the company acquires bitcoin or U.S. dollar denominated stablecoins, the company will be exposed to certain risks associated with bitcoin or stablecoins, respectively,” according to its earnings report.
“Overall, news about crypto initiatives could make GameStop stock even more susceptible to sharp movements,” analysts at crypto payments platform B2BinPay noted. “In the short term, this has already acted as a positive decision, as reflected in the company’s stock growth, however, it also carries risks of volatility. Stablecoins, of course, won’t carry those risks, but bitcoin can go both ways — offering potential for growth but also for a drop.”
GameStop’s crypto pivot comes as bitcoin has gained approximately 10% since its early March lows, though the cryptocurrency remains well below its January peak of almost $110,000. The price recovery coincides with speculation that U.S. President Donald Trump might be pulling back from threats of global trade tariffs, which had previously pressured markets.
The GameStop announcement adds to growing corporate interest in bitcoin treasury strategies. Metaplanet and Semler Scientific have recently adopted similar approaches. Last week, Saylor predicted a coming “Cambrian explosion” of companies and countries purchasing bitcoin during a Blockworks podcast.
Earlier this month, Saylor was among several bitcoin and cryptocurrency executives who attended a White House digital asset summit hosted by Trump. A White House official has previously revealed potential ways Trump could spur higher bitcoin prices, adding to speculation about future government policy toward digital assets.
For GameStop, this move represents a significant shift in corporate strategy. The company, which became famous during the 2021 “meme stock” frenzy alongside companies like AMC and cryptocurrencies like Dogecoin, is clearly looking to capitalize on renewed investor interest in bitcoin as a corporate treasury asset.
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