GameStop Embraces Bitcoin Treasury Strategy, Boosts Investor Optimism

GameStop (GME) has officially joined the growing list of publicly traded companies adding Bitcoin to their balance sheets. In its fourth-quarter earnings report, the company revealed that its board of directors unanimously approved adopting Bitcoin as a treasury reserve asset.

This bold move comes shortly after GameStop Chairman and CEO Ryan Cohen fueled speculation by posting a photo of himself with MicroStrategy (MSTR) Executive Chairman Michael Saylor at Mar-a-Lago, former President Donald Trump’s private club. Saylor is known for pioneering the corporate Bitcoin treasury strategy at MicroStrategy.

The speculation intensified when Matt Cole, CEO of Strive Asset Management—a GME shareholder through its ETFs—publicly urged Cohen to allocate part of GameStop’s nearly $5 billion in cash reserves into Bitcoin. Cole highlighted the opportunity for GameStop to lead the gaming industry in Bitcoin adoption and redefine its financial strategy.

Cohen’s cryptic tweet “Letter received” in response to Cole’s proposal stirred excitement among crypto and stock market enthusiasts.

Following the announcement, GameStop shares jumped 5.7% in after-hours trading. Bitcoin also saw a modest uptick, currently trading at $88,500, up 0.2% from the previous day.

This strategic pivot not only marks GameStop’s entry into digital assets but also signals a potential trend among cash-rich corporations looking to diversify reserves with Bitcoin. With Cohen at the helm and growing support from institutional investors, GameStop could reshape its identity—from a meme stock to a Bitcoin-forward gaming powerhouse.