GameStop hints at future Bitcoin purchases following board approval
The video game retailer’s cash pile rose to nearly $4.8 billion as of Feb. 1, compared with $921.7 million a year earlier.
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.
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Author: Sam Bourgi
