GameStop Approves Bitcoin as Financial Reserve Asset
According to the quarterly financial report released by the American publicly traded company GameStop, the company’s board of directors has unanimously approved the decision to use Bitcoin as a financial reserve asset. It is reported that GameStop may utilize existing cash or raise capital through future debt or stock issuance to invest in Bitcoin, although specific purchase amounts or allocation limits have not been disclosed at this time.
The announcement of GameStop’s Bitcoin strategy coincides with an improvement in the company’s financial performance. As of February 1, for the fourth quarter, the company’s net sales amounted to $1.28 billion, falling short of FactSet analysts’ forecast of $1.48 billion. However, the adjusted earnings per share reached $0.29, exceeding market expectations of $0.08 per share.
After the financial report was released, GameStop’s stock price rose over 8% in after-hours trading. In contrast, Bitcoin’s price reacted mildly to the news, fluctuating below $88,000.
