4 months ago
GameStop (GME) has added its sanction to the quickly-growing roster of publicly-traded companies adopting a bitcoin treasury strategy.
Alongside its 4th fourth net report, the institution said its committee unanimously approved adding bitcoin arsenic a treasury reserve asset.
CEO Ryan Cohen successful aboriginal February got tongues wagging erstwhile he posted a representation of himself and Strategy (MSTR) Executive Chairman Michael Saylor astatine Donald Trump's Mar-a-Lago.
Several days later, Strive Asset Management CEO Matt Cole sent a missive to Cohen urging GME to usage astatine slightest portion of its much than $5 cardinal of currency connected manus to acquisition bitcoin. Co-founded by Vivek Ramaswamy, Strive is an proprietor of GME done its ETFs.
"We judge GameStop has an unthinkable accidental to alteration its fiscal aboriginal by becoming the premier bitcoin treasury institution successful the gaming sector," wrote Cole.
Cohen further raised eyebrows erstwhile helium tweeted out, "Letter received."
GME shares are up 5.7% successful aft hours trading. Bitcoin has gained a spot connected the news, present trading astatine $88,500.
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