GameStop Corp. has updated its investment policy to incorporate Bitcoin as a treasury reserve asset, following discussions led by Chairman and CEO Ryan Cohen with notable Bitcoin advocates like Michael Saylor. The update allows for cryptocurrency investments, but the company also recognizes the inherent risks such as impacts on financial results and controls. This announcement coincided with the company's financial report, showing a decline in net sales yet improved income for the quarter. GameStop's strategic shift towards digital assets reflects a broader trend in traditional companies exploring cryptocurrency opportunities.
GameStop's board approved an investment policy update to include Bitcoin as a treasury reserve asset, enhancing its financial strategy amidst market shifts.
The update permits investments in Bitcoin and stablecoins, acknowledging risks while aiming to leverage cryptocurrency for potential financial growth.
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