Business

GameStop Considers Adding Bitcoin To Its Balance Sheet

GameStop is exploring the possibility of adding Bitcoin (BTC) and other cryptocurrencies to its balance sheet.

Haider Jamal
February 14, 2025

No Final Decision Yet

The news caused GameStop’s stock to surge by up to 20% in after-hours trading, though no final decision has been made. The company is still evaluating whether Bitcoin fits with its financial strategy.

CEO Ryan Cohen sparked speculation over the weekend by posting a photo with MicroStrategy’s Michael Saylor, the largest corporate Bitcoin holder. However, sources confirmed Saylor is not involved in GameStop’s crypto talks.

A Growing List

This wouldn’t be GameStop’s first crypto venture. In 2022, it launched a crypto wallet for Bitcoin, Ethereum (ETH), and NFTs, but discontinued it in 2023 due to regulatory uncertainty.

Cohen has focused on cost-cutting and operational efficiency since taking the helm in 2021, with the company holding a $4.6 billion cash reserve as of November 2022. Bitcoin is now being considered as an investment.

If GameStop follows through, it will join a growing list of companies adopting Bitcoin as a corporate asset. MicroStrategy, the largest Bitcoin holder among corporations, has seen its stock surge by 400% as a result. Other companies like OneMedNet and KULR have also made similar moves, using Bitcoin to bolster their financial strategies.

Join Our FREE Newsletter

Subscribe to stay informed and receive latest updates on the latest happenings in the crypto world!

By submitting this form, you are consenting to receive marketing emails from: Crypto Weekly, 36 Blue Jays Way, Toronto, ON, M5V 3T3, http://cryptoweekly.co. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.