Gamestop Corp. (NYSE: GME) announced That its board of directors has unanimously approved an update of the company’s investment policy, allowing Bitcoin to remain a treasure reserve asset. The decision follows a series of commitments between the president and CEO of Gamestop, Ryan Cohen and prominent figures such as Michael Saylor, in the Bitcoin industry.
On February 8, Cohen fiscal With the president of the strategy and the well -known Bitcoin lawyer Michael Saylor, causing speculation that Gamestop can be adding BTC to his balance. A couple of weeks later, Cohen responded to Coindesk through a tweet which indicates “Letter received”. After receiving a letter from the CEO of Stive Asset Management, Matt Cole, who urged Gamestop to adopt Bitcoin as a reserve asset.
In his announcement, Gamestop said that its investment policy now allows investments in “certain cryptocurrency assets, including Bitcoin and Stablecoins called in US dollars.” The company also recognized the associated risks, including the potential impact of these investments on their financial results and internal financial controls.
The policy update was revealed together with the company’s financial results for the fourth quarter and the full fiscal year that ended on February 1, 2025.
For the fourth quarter, Gamestop reported net sales of $ 1,283 billion, a decrease of $ 1,794 billion in the same period of the previous year. Sales, general and administrative expenses (SG & a) fell to $ 282.5 million, compared to $ 359.2 million in the fourth quarter of the previous year. The net income for the quarter was $ 131.3 million, compared to $ 63.1 million from the previous year. The Ebitda adjusted for the quarter was $ 96.5 million, compared to $ 88.0 million in the fourth quarter of the previous year.
Gamestop also revealed that he had $ 4,775 billion in cash, cash equivalents and commercialized values ​​at the end of the quarter. The company completed its departure from Italy and finished the manure of the store operations in Germany during this period.
For the full fiscal year 2024, Gamestop reported net sales of $ 3,823 billion, below $ 5,273 billion in fiscal year 2023. The expenses of SG and A for the year were $ 1,130 billion, compared to $ 1,324 billion in the previous year. The net income for the year reached $ 131.3 million, significantly higher than the $ 6.7 million reported in fiscal year 2023. EBITDA adjusted for the entire year was $ 36.1 million, compared to $ 64.7 million in the previous year.
The company has not yet revealed how much Bitcoin plans to buy or when BTC will begin to acquire, and CEO Ryan Cohen has not yet commented publicly about the addition of Bitcoin to the Gamestop balance at the time of publication.
