GameStop has officially added Bitcoin to its balance sheet. This decision was confirmed during its fourth quarter earnings release. The company’s board of directors unanimously approved this move, which aligns with earlier reports about GameStop’s plans to invest in Bitcoin and possibly other cryptocurrencies.
Following the announcement, GameStop’s shares rose by over 6% in after-hours trading. Bitcoin itself remained stable, trading just below $88,000.
GameStop has not revealed how much it will invest in Bitcoin or any specific limits on its purchases. The company may use its existing cash or funds raised from future debt or equity offerings for this investment.
This announcement comes alongside GameStop’s strong quarterly performance. The company reported a net income of $131.3 million for the fourth quarter, a significant increase from $63.1 million in the same period last year. This positive financial result likely supports the decision to invest in Bitcoin.
