Published , by Ozzie Mejia
Published , by Ozzie Mejia
GameStop is about to get into the Bitcoin game. As part of its Q4 2024 earnings report, GameStop announced that it has approved a plan to buy Bitcoin and add it as a treasury reserve asset. The plan was unanimously approved by the GameStop board.
GameStop's move into Bitcoin has been speculated on for the past few weeks. CNBC first reported that the company had been considering crypto investments back in February. There does not appear to be evidence that Bitcoin was purchased during the last financial quarter, so any Bitcoin purchase and fallout from that would be indicated on the next quarterly earnings report.
GameStop finished the Tuesday, March 25 trading day down $0.21/share. The stock has risen modestly in after-hours trading following the Bitcoin announcement.
There's more to say about Tuesday's GameStop (GME) Q4 2024 earnings report. Keep it here on Shacknews for the latest updates.
