- GameStop announced that its board of directors has approved adding Bitcoin as a treasury reserve asset.
- The video game retailer shared the news in a press release on Tuesday, March 25, 2025.
- Bitcoin was trading above $88,000 at the time this article was written.
GameStop, the publicly traded video game retailer, confirmed that it has added Bitcoin (BTC) to its cash reserves. The New York Stock Exchange-listed company—whose ticker GME became a well-known meme stock—released the update in a press release on Tuesday.
GameStop purchases Bitcoin
According to the announcement, GameStop’s board of directors unanimously approved a change to the company’s investment policy to permit holding Bitcoin as a treasury reserve asset.
With this move, the company joins a growing list of corporations that have added Bitcoin to their balance sheets, following notable purchases by Tesla and MicroStrategy (now Strategy), among others.
MicroStrategy, which rebranded to Strategy, has become the largest corporate holder of Bitcoin globally. GameStop’s decision comes alongside the company’s fourth-quarter results released after market close on March 25, 2025.
This announcement follows reports from roughly a month earlier that indicated GameStop was exploring cryptocurrencies. Those initial reports suggested the company was considering adding Bitcoin to its balance sheet, and speculation was fueled by a social post from GameStop’s CEO, Ryan Cohen.
In a photo shared on X, Cohen appeared with Michael Saylor, founder and executive chairman of Strategy. As noted, Saylor’s firm—known for its strategic use of data and AI-driven business intelligence—holds the largest corporate bitcoin position to date.
After its most recent purchase, Strategy holds more than 506,000 bitcoins, bought for a total exceeding $33.7 billion. At the time of writing, Bitcoin traded near $88,200, roughly unchanged over the previous 24 hours but up about 8% over the past week. Meanwhile, GameStop’s stock (GME) rose roughly 6% after the close, trading around $26.82.