The post GameStop (GME) Jumps Following Unexpected Bitcoin Pivot appeared on BitcoinEthereumNews.com.

Electronic gaming giant GameStop Corp. (NYSE: GME) has announced a significant shift in its investment strategy. In a recent update, the American video game retailer informed the crypto community of its shift to Bitcoin as a treasury reserve asset. Market data shows that this decision has significantly increased the company’s stock value amid bullish investor interest. GameStop’s Stock Performance Following the announcement, GameStop’s stock experienced a substantial rise. As of this writing, the company stock was trading at $29.16, showing a 15% increase from the previous close. Market data shows that the trading session saw the stock reach a high of $29.90 and a low of $27.40, with an opening price of $28.94. The technology company also saw its shares record a daily trading volume of 29,531,772. Last week, GameStop Corp reported a 28% year-over-year drop in fourth-quarter sales, bringing revenue down to $1.28 billion. In addition, full-year adjusted EBITDA also fell to $36.1 million from $64.7 million the previous year. Despite the revenue decline, reports show that GameStop still has $4.6 billion in cash, which allows it to explore new financial strategies. Shortly after the announcement, Michael Saylor, the Chairman of Strategy, shared his thoughts on X, calling the move a step in the right direction. Many crypto experts and influencers have also reacted, expressing optimism about GameStop’s decision. Since the announcement, the post has gained nearly 2 million impressions on X. Bitcoin Influence on Corporate Strategy GameStop’s decision to integrate BTC into its treasury reserves follows a growing trend among organizations. Many companies are now diversifying their portfolio with Bitcoin and other cryptocurrencies. They consider it a hedge against inflation and a strategy to invest in assets other than Gold. Per the GameStop update, the company’s board unanimously approved this policy update, allowing investments in Bitcoin and U.S.…

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Filed under: News - @ March 27, 2025 9:22 am