GameStop officially included Bitcoin in its treasury reserves, and GME stock price rose over 12%.

Do you remember the GameStop that sparked the "retail investors vs Wall Street" battle? It has made headlines again! On March 25, the board of directors of this game retailer unanimously passed a resolution to officially include Bitcoin in the company's treasury reserve assets. As soon as the news broke, the company's stock price soared 12.23% in after-hours trading, reaching a closing price of $28.58 yesterday.

This transformation is quite dramatic. Just last month, GameStop's CEO Ryan Cohen posted a photo on social media with "Bitcoin evangelist" Michael Saylor, and the market sensed something was up. Now the shoe has dropped; although the company has not disclosed the specific investment amount, it has clearly stated that it will use cash reserves or issue bonds/stocks to increase its Bitcoin holdings.

GameStop's move can actually be traced back. In the fourth quarter of last year, through drastic cost reductions, the company's net profit surged from $63.1 million to $131.3 million. With some spare cash in hand, coupled with the sluggish growth of traditional game retail business, it is not difficult to understand the choice of Bitcoin as a reserve asset.

Interestingly, this is not GameStop's first foray into the crypto space – it launched an NFT wallet in 2022, which was later shut down in 2023 due to regulatory uncertainty, and now it's making a "comeback."

Looking at the market, GameStop is not an isolated case. From MicroStrategy (now renamed Strategy) holding 506,000 Bitcoins, to Japan's Metaplanet becoming an "institutional holder" of coins in Asia, it has become a trend for listed companies to allocate Bitcoin. Even the video platform Rumble has announced plans to invest 20 million dollars. This enterprise-level demand is becoming an important force driving the price of Bitcoin.

However, investing in Bitcoin is also a double-edged sword for enterprises. According to the latest financial report from Strategy, its unrealized gains from Bitcoin holdings have exceeded $10 billion; on the other hand, the high volatility of Bitcoin may also bring severe fluctuations to the company's financial reports. Whether GameStop can manage this risk will require time to test.

In summary, as more listed companies follow suit, the narrative of Bitcoin as "corporate reserve asset" is accelerating, which may reshape the interaction model between cryptocurrency and traditional finance.

#GameStop # Bitcoin #企业储备 # listed company