Key Takeaways
- GameStop’s board has accepted including Bitcoin to its treasury reserves.
- The corporate didn’t specify how a lot Bitcoin it plans to purchase.
- GameStop joins a rising record of public corporations adopting Bitcoin of their treasury methods.
GameStop Corp. introduced on Tuesday that its board of administrators has unanimously accepted an replace to its funding coverage to incorporate Bitcoin as a treasury reserve asset.
Strategic shift in steadiness sheet administration
The transfer alerts a strategic shift in how the corporate manages its steadiness sheet.
Whereas the announcement didn’t specify how a lot Bitcoin the corporate plans to buy or when the purchases will start, the choice locations GameStop amongst a rising record of publicly traded corporations that maintain Bitcoin as a part of their company treasury.
Announcement particulars
The announcement was made through a quick press launch issued from the corporate’s headquarters in Grapevine, Texas.
GameStop’s assertion confirmed:
… its board has unanimously accepted an replace to its funding coverage so as to add Bitcoin as a treasury reserve asset.
Further data
The corporate didn’t present additional commentary or particulars within the launch.
GameStop’s investor relations division will be contacted for extra data.
Buying and selling data
GameStop trades on the New York Inventory Alternate below the ticker GME.