Key Takeaways
- GameStop's board has approved adding Bitcoin to its treasury reserves.
- The company did not specify how much Bitcoin it plans to buy.
- GameStop joins a growing list of public firms adopting Bitcoin in their treasury strategies.
GameStop Corp. announced on Tuesday that its board of directors has unanimously approved an update to its investment policy to include Bitcoin as a treasury reserve asset.
Strategic shift in balance sheet management
The move signals a strategic shift in how the company manages its balance sheet.
While the announcement did not specify how much Bitcoin the company plans to purchase or when the purchases will begin, the decision places GameStop among a growing list of publicly traded firms that hold Bitcoin as part of their corporate treasury.
Announcement details
The announcement was made via a brief press release issued from the company’s headquarters in Grapevine, Texas.
GameStop’s statement confirmed:
… its board has unanimously approved an update to its investment policy to add Bitcoin as a treasury reserve asset.
Additional information
The company did not provide further commentary or details in the release.
GameStop’s investor relations department can be contacted for additional information.
Trading information
GameStop trades on the New York Stock Exchange under the ticker GME.
