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GameStop To Invest Corporate Cash In Bitcoin, Following In Footsteps of MicroStrategy
Wednesday March 26, 2025. 02:01 AM , from Slashdot
GameStop announced it will invest part of its corporate cash in bitcoin and stablecoins, following MicroStrategy's lead. The meme stock jumped more than 6% in extended trading Tuesday following the news. CNBC reports: The video game retailer said a portion of its cash or future debt and equity issuances may be invested in bitcoin and U.S. dollar-denominated stablecoins. As of Feb. 1, GameStop held nearly $4.8 billion in cash. The firm also said it has not set a ceiling on the amount of bitcoin it may purchase. The company said the move could expose it to volatility associated with cryptocurrency prices.
'Bitcoin, for example, is a highly volatile asset and has experienced significant price fluctuations over time. Our Bitcoin strategy has not been tested and may prove unsuccessful,' GameStop said in a U.S. Securities and Exchange Commission filing. Read more of this story at Slashdot.
https://slashdot.org/story/25/03/26/0059223/gamestop-to-invest-corporate-cash-in-bitcoin-following-i...
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