GameStop (GME) — one of the most well-known "meme stocks" in recent years — is officially entering the cryptocurrency market. The company has confirmed plans to invest in Bitcoin (BTC) and stablecoins, following a formal decision by its Board of Directors.
This news was first reported by CNBC, citing GameStop’s Q4 financial report. The company may use both internal funds and external capital to carry out the investments.
The initiative is expected to cost $1.3 billion. The company has issued convertible bonds for a corresponding amount with a 0% interest rate through 2030.
Bitcoin as a Hedge Instead of Fiat Reserves
According to the report, GameStop intends to allocate part of its cash reserves or future debt financing into Bitcoin and U.S. dollar-backed stablecoins. The company's financial policy has been updated to explicitly permit such allocations.
As of February 1, 2025, GameStop held over $4.7 billion in reserves — a significant increase compared to $921.7 million a year prior.
- Net revenue for Q4 totaled $1.283 billion.
- Full-year revenue for fiscal 2024 reached $3.823 billion.
Background and Speculation
Rumors about GameStop’s interest in crypto began circulating in February, when CEO Ryan Cohen posted a photo on social media with Michael Saylor, Chairman of MicroStrategy and a well-known Bitcoin advocate.
The captionless image sparked speculation that the retailer was preparing to make a move into crypto.
Those rumors are now confirmed: GameStop appears to be following MicroStrategy’s example by adding Bitcoin to its balance sheet.
MicroStrategy, for its part, recently announced the acquisition of 6,911 additional BTC, bringing its total holdings to 506,137 BTC — roughly 2.4% of Bitcoin’s total supply.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.