GameStop (GME), the prominent U.S.-based retailer specializing in video games and consumer electronics, has officially revealed that its board of directors has given the green light to an update in its investment policy. This change permits the company to allocate a portion of its substantial cash reserves to Bitcoin.
According to a recent press release from GlobeNewswire, this development represents a notable shift in GameStop’s financial approach as it seeks to diversify its assets. The company currently holds over $4.75 billion in cash but has not disclosed the exact amount to be invested in Bitcoin.
GameStop’s decision aligns the company with other major publicly traded firms, such as MicroStrategy and Tesla, both of which have incorporated Bitcoin into their corporate treasury strategies.
The announcement has generated considerable interest among investors, sparking discussions about the potential impact of this move on GameStop’s financial health and the wider cryptocurrency market.
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