The post GameStop pressured to bet big on Bitcoin with $5B reserve proposal appeared on BitcoinEthereumNews.com.

GameStop is being pushed to put its money where the future is—Bitcoin. Matt Cole, CEO of Strive Asset Management, sent a letter on February 24 to Ryan Cohen, GameStop’s chairman and CEO, asking the company to convert a huge portion of its $5 billion cash reserve into Bitcoin. Strive manages exchange-traded funds (ETFs) that hold GameStop stock, and Matt claims this gives his company a “fiduciary responsibility” to advocate for decisions that maximize shareholder value. “We believe GameStop has an incredible opportunity to transform its financial future by becoming the premier Bitcoin treasury company in the gaming sector,” Matt wrote in his letter. His argument? Holding cash is a losing game. Bitcoin, he claims, would protect GameStop’s reserves against inflation and help the company outpace monetary debasement. Letter addressed to Ryan Cohen, CEO of Gamestop, on a proposal to adopt the Bitcoin standard. According to Matt’s letter, GameStop has reduced operating losses and offset deficits through interest income from its cash holdings. He said: “By holding Bitcoin through this worldwide monetary revolution, GameStop can transform its substantial treasury from a slowly shrinking resource into a profit center. The moment is ripe now that new FASB accounting standards recognize unrealized Bitcoin gains as profit.” GameStop weighs Bitcoin move as stock surges by 20% Reports of GameStop considering Bitcoin and crypto investments have already sent GameStop shares surging 20% in after-hours trading. A February 14 report from CNBC claimed that GameStop is actively evaluating alternative assets, including Bitcoin. But the report did stress that the company hasn’t made a final decision and is still determining whether crypto aligns with its long-term strategy. Matt’s letter outlines a blueprint for how GameStop could execute a Bitcoin play. He suggests issuing at-the-market (ATM) offerings and convertible debt securities to raise capital specifically for Bitcoin purchases.…

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Filed under: News - @ February 25, 2025 10:16 pm