The Gamestop Corporation (GME), the retail of the Video Game that has a -memecoin stock, has been reported to be moving to invest in Bitcoin after the board has not approved a plan to obtain digital property.
According to In a March 25 CNBC report, the company announced that it would use a portion of corporate cash or future debt release to invest in Bitcoin (Btc) and US-dollar-pegged stablecoins.
The plan was further corroborated by the fourth quarter report of the company, which was released on March 25 and showed the purpose of getting Bitcoin and Stablecoins.
“(T) The company’s investment policy allows investments in certain cryptocurrency assets, including Bitcoin and the US dollar-denominated stabil coins,” the financial statement read.
Gamestop’s cash reserves stood more than $ 4.77 billion in February. 1, compared to only $ 921.7 million a year before.
The video game retailers posted $ 1.283 billion in net sales in fourth quarter and $ 3.823 billion for fiscal 2024.
The quarterly statement of Gamestop’s finances. Source: Gamestop
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This is a story development, and further information will be added as it is available.
