GameStop hints at future Bitcoin purchases following board approval
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GameStop Corporation (GME), the video game retailer turned memecoin stock, is reportedly moving to invest in Bitcoin after its board unanimously approved a plan to acquire digital assets. According to a March 25 CNBC report, the company announced that it would use a portion of its corporate cash or future debt issuances to invest in Bitcoin (BTC) and US-dollar-pegged stablecoins. The plan was further corroborated by the company’s fourth-quarter earnings report, which was released on March 25 and showed intent to acquire Bitcoin and stablecoins. “[T]he Company’s investment policy permits investments in certain cryptocurrency assets, including Bitcoin and US dollar-denominated stable coins,” the financial statement read. GameStop’s cash reserves stood at more than $4.77 billion as of Feb. 1, compared to just $921.7 million one year earlier. The video game retailer posted $1.283 billion in net sales during the fourth quarter and $3.823 billion for fiscal 2024.GameStop’s quarterly financial statements. Source: GameStopRelated: GameStop buying Bitcoin would ‘bake the noodles’ of TradFi: Swan execThis is a developing story, and further information will be added as it becomes available.Weiter zum vollständigen Artikel bei Cointelegraph Weiter zum vollständigen Artikel bei Cointelegraph
Quelle: Cointelegraph