GameStop Opens Door to Bitcoin Holdings in Treasury

GameStop Embraces Crypto-Friendly Policy

GameStop has quietly paved the way for a potential Bitcoin acquisition by updating its investment policy. The company now allows for holding digital assets, including Bitcoin and stablecoins, marking a strategic shift in its treasury management. 

While GameStop made no public statements on the change—and even skipped its latest earnings call—the updated language in its fiscal 2024 report suggests the retailer is considering crypto as part of its financial strategy.

“The Company's investment policy permits investments in certain cryptocurrency assets, including Bitcoin and U.S. dollar–denominated stable coins,”  the filing reads.

Financial Strength and Potential Bitcoin Allocation

GameStop’s cash reserves have skyrocketed to $4.78 billion, up from just $938.9 million a year ago. This dramatic increase came largely from its at-the-market (ATM) equity offering program, which raised $3.45 billion. With these reserves, the company now has significant capital available for new investments—including Bitcoin. 

In fiscal 2024, GameStop posted a net income of $131.3 million, a major improvement from the previous year’s $6.7 million, despite net sales declining from $5.27 billion to $3.82 billion. The company also reduced expenses and wound down operations in Germany while selling off its business in Italy.

Following the MicroStrategy Playbook?

Earlier this month, GameStop CEO Ryan Cohen shared an uncaptioned photo on social media with Strategy executive chairman and Bitcoin advocate Michael Saylor, sparking further speculation about a potential BTC acquisition.

If GameStop follows through on Bitcoin acquisitions, it would join other publicly traded companies like MicroStrategy and Tesla in adding BTC to its balance sheet. MicroStrategy, led by Bitcoin advocate Michael Saylor, recently announced an additional 6,911 BTC purchase, bringing its holdings to over 506,000 BTC—roughly 2.4% of Bitcoin’s total supply. 

While GameStop has yet to confirm any purchases, the policy update signals a potential pivot into digital assets, positioning the company at the forefront of corporate Bitcoin adoption.