GameStop eyes Bitcoin purchases with $4.8B in cash

GameStop Corporation has signaled plans to invest in Bitcoin (CRYPTO:BTC) and stablecoins, leveraging its $4.77 billion cash reserves—a 420% increase from $921.7 million a year earlier.

“The Company’s investment policy permits investments in certain cryptocurrency assets, including Bitcoin and US dollar-denominated stablecoins,” the March 25 earnings report states, following unanimous approval from the video game retailer’s board.

The move mirrors Strategy’s playbook, which holds 506,137 BTC (2.4% of Bitcoin’s supply).

CEO Ryan Cohen fueled speculation by sharing an uncaptioned photo with Strategy’s Michael Saylor in February, days before rumors of GameStop’s crypto pivot.

While no BTC purchases have been confirmed, analysts note the company’s $1.28 billion Q4 revenue and $3.82 billion fiscal 2024 sales provide ample liquidity for such a move.

GameStop’s shift reflects its post-meme stock evolution.

After becoming a 2021 retail trading phenomenon, the firm returned to profitability in fiscal 2023.

The crypto strategy aligns with Cohen’s efforts to modernise operations, though specifics on allocation sise or timing remain unclear.

The announcement follows Strategy’s March 2025 BTC acquisition of 6,911 coins, highlighting institutional Bitcoin adoption trends.

GameStop’s entry could further legitimise crypto as a corporate treasury asset, though risks like market volatility and regulatory scrutiny persist.

While GameStop’s board approval marks a decisive step, the retailer’s execution will hinge on balancing crypto exposure with its core gaming business.

As one of the first major retailers to explore Bitcoin reserves, the move underscores a broader shift in corporate finance—a trend Strategy’s Saylor has championed for years.

The company’s $4.8 billion war chest positions it to act decisively, but analysts await concrete steps.

Whether GameStop’s crypto foray mirrors Strategy’s aggressive accumulation or a more cautious approach remains to be seen.

At the time of reporting, the Bitcoin (BTC) price was $87,304.79.