Overview

• GameStop's board unanimously approved a plan to invest in Bitcoin as a treasury reserve asset, with no cap on the amount to be purchased.
• The company raised $1.3 billion through convertible debt to fund its Bitcoin acquisitions, following a broader trend of corporate cryptocurrency adoption.
• GameStop's stock surged by over 10% following the announcement, reflecting renewed investor interest in the company's strategic pivot.
• The retailer anticipates closing a significant number of additional stores in 2025 as part of ongoing cost-cutting measures.
• Analysts remain cautious about the risks of cryptocurrency market volatility and the untested nature of GameStop's Bitcoin strategy.