Gamestop announced that its board of directors has unanimously agreed to a plan Invest the company’s capital in Bitcoin.
This step follows the path determined by the strategy (previously Microstrategy), a company in recent years in recent years in the cryptocurrency. After advertising, Gamestop rose by more than 6 % in post -hours trading.
The company mentioned that part of it LiquidOr any future debt tools and shares, can be customized to buy Bitcoin and Stablecoins are curved in US dollars.
As of February 1, Gamestop had almost 4.8 billion dollars in cashWithout specifying the maximum bitcoin acquisitions.
Gamestop strategic step
The initiative represents the latest strategy implemented by the CEO Ryan CohenWho was long committed to revival GamestopIt is a historical company in selling material video games, but it was forced to face a decrease in sales as the market moved towards digital.
Cohen has so far focused on radicalism Reducing costs And to improve operations, with the aim of returning the company to Profitability.
Bitcoin’s acquisition of the company’s financial activities may not diversify, but also a bet on the future Create encrypted currencies As a long -term origin.
Microstrategy precedent and the risk of volatility
Microstrategy – Re -named it now streetAGymnast – It was the first major company to adopt this strategy, as it bought billions of dollars from Bitcoin and became the largest carrier of companies in the encrypted currency. His choice led to a rapid growth in the value of its shares, although it is a high level of Volatility.
Gamestop also confirmed in its statement that the entry of the cryptocurrency market involves risks.
Bitcoin is famous for its fluctuationAfter registering large price fluctuations over time. The company stated that the investment strategy in the encrypted currency is still Not It can be proven inefficient.
In recent years, Bitcoin has seen intensive fluctuations in prices. After exceeding $ 100,000 a signThe currency underwent a decrease 18 %It settles all over 88,000 dollars.
Gamestop and the growing financial results
Announcement of investment in Bitcoin comes in positive Time for Gamestop, which registered Strong growth in financial results For the fourth quarter.
The company mentioned a A net profit of 131.3 million dollarsAlmost double 63.1 million dollars From the same period in the previous year.
Investors welcomed these results, and showed renewed optimism about the company’s future prospects.
However, it remains to see whether entering the crystallized currency world will represent a Useful or risky The company’s opportunity.
Gamestop?
Investment in Bitcoin is a new stage in the Gamestop turning under the leadership of Ryan Cohen. After the Microstrategy model, the company aims to diversify its financial portfolio, while recognizing the risks associated with the fluctuation of encrypted currencies.
Whether this strategy will bring long -term benefits to Gamestop depends on Perform the encrypted currency market The company’s ability to manage this new initiative effectively.
Meanwhile, investors appear to have welcomed the news enthusiastically, indicating a renewed interest in Gamestop.
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