GameStop (GME) has added its name to the rapidly growing roster of public companies adopting Bitcoin's financial strategy.
In addition to its fourth quarter revenue report, the company said the board unanimously approved the addition of Bitcoin as a Treasury protected asset.
In early February, CEO Ryan Cohen posted a photo of himself and strategy (MSTR) Michael Saylor (MSTR) chairman Michael Saylor in Donald Trump's Mar-a-Lago.
A few days later, Asset Management CEO Matt Cole wrote to Cohen, urging GME to use a portion of nearly $5 billion in cash on hand to buy Bitcoin. Co-founded by Vivek Ramaswamy, Strive is the owner of GME through ETF.
“By becoming the best Bitcoin finance company in the gaming sector, we believe GameStop has an incredible opportunity to change the financial future,” writes Cole.
Cohen raised his eyebrows even more when he tweeted that he had received the letter.
GME stocks have grown 5.7% since trading. Bitcoin has been a modest win in the news, and is currently trading at $88,500, about 0.2% ahead of the market for 24 hours.
