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GameStop’s Board of Directors Approve New Investment Policy Allowing Company to Buy Bitcoin – They Currently Sit on $4.7 Billion in Cash…
In a surprising yet significant move, GameStop’s board of directors has unanimously approved a new investment policy that grants the company permission to purchase and hold Bitcoin (BTC) as an investment. This decision marks a bold shift for the gaming giant, which has been sitting on a staggering $4.7 billion in cash.
The news comes after GameStop reported impressive earnings numbers, with a 30-cent-per-share profit and revenue of $1.28 billion. Furthermore, the company’s free cash flow took a drastic turn, shifting from a negative $18.7 million last year to a positive $158.8 million this year.
While some may view this move as an attempt to capitalize on the recent cryptocurrency market volatility, it appears that GameStop is genuinely interested in diversifying its investment portfolio. The company’s decision to allocate funds towards Bitcoin signals a willingness to adapt to the evolving financial landscape and explore new opportunities for growth.
Notably, GameStop’s board has approved the new policy unanimously, indicating a united front among directors in this matter. This decision could potentially bring about a new era of investing strategies for the company, which may appeal to a more diverse range of investors.
As the cryptocurrency market continues to fluctuate, it will be interesting to see how GameStop chooses to allocate its vast cash reserves.
Source: https://www.globalcryptopress.com/2025/04/gamestops-board-of-directors-approve.html
