Crypto

GameStop to invest corporate cash in bitcoin, following in footsteps of MicroStrategy

Published

9 months ago

March 25, 2025

GameStop to invest corporate cash in bitcoin, following in footsteps of MicroStrategy

Video game retailer GameStop announced Tuesday its board has unanimously approved a plan to buy bitcoin with its corporate cash, echoing a move made famous by MicroStrategy.

The meme stock jumped more than 6% in extended trading Tuesday following the news. The announcement confirmed CNBC’s reporting in February of GameStop’s intention to add bitcoin and other cryptocurrencies to its balance sheet.

The video game retailer said a portion of its cash or future debt and equity issuances may be invested in bitcoin and U.S. dollar-denominated stablecoins. As of Feb. 1, GameStop held nearly $4.8 billion in cash. The firm also said it has not set a ceiling on the amount of bitcoin it may purchase.

GameStop will be following in the footsteps of software company MicroStrategy, now known as Strategy, which bought billions of dollars worth of bitcoin in recent years to become the largest corporate holder of the flagship cryptocurrency. That decision prompted a rapid, albeit volatile, rise for Strategy’s stock.

GameStop’s foray into cryptocurrencies marks the latest effort by CEO Ryan Cohen to revive the struggling brick-and-mortar business. Under Cohen’s leadership, GameStop has focused on cutting costs and streamlining operations to ensure the business is profitable.

The company said the move could expose it to volatility associated with cryptocurrency prices.

“Bitcoin, for example, is a highly volatile asset and has experienced significant price fluctuations over time. Our Bitcoin strategy has not been tested and may prove unsuccessful,” GameStop said in a U.S. Securities and Exchange Commission filing.

Bitcoin, the world’s largest cryptocurrency, has ridden a roller coaster since President Donald Trump won reelection. After shooting up and piercing the $100,000 milestone, bitcoin has declined about 18% from its record high to a recent price of approximately $88,000.

In tandem with the cryptocurrency announcement, investors also cheered a rise in GameStop’s fourth-quarter results. The firm reported net income of $131.3 million, more than double the $63.1 million earned in the same quarter last year.

Crypto

Crypto Tax Pressure Reaches Congress as Lawmakers Face Urgent Push to Rewrite Federal Rules

Published

1 hour ago

December 17, 2025

Press Room

Lawmakers are confronting rising pressure to modernize cryptocurrency tax policy as uncertainty clouds compliance, threatens U.S. competitiveness, and forces Congress to weigh legislative action amid warnings that capital and innovation could move offshore.

Crypto

Cryptocurrency becomes trendy holiday gift option

Published

13 hours ago

December 16, 2025

Press Room

Cryptocurrency becomes trendy holiday gift option

PHOENIX (AZFamily) — Cryptocurrency is appearing on more holiday wish lists as gift-givers look for alternatives to traditional presents.

A new survey from the National Cryptocurrency Association and PayPal shows 24% of Americans have given or are considering giving cryptocurrency this holiday season.

The survey also found that 17% of consumers would rather receive cryptocurrency than a gift card, and 31% of Americans believe crypto gifts are less likely to go unused than gift cards.

“It’s actually a trending holiday gift, especially compared to gift cards,” said Ali Tager, a spokesperson for the NCA. “We know crypto is becoming increasingly mainstream.”

Tager said people like receiving cryptocurrency because it has the potential to increase in value.

“There’s so much you can do with this technology and it’s still in its early days,” she said.

Financial advisor Angelica Prescod said there are other investment options to consider for gift-giving.

“One of them is just gifting people something simple. Maybe some shares of some stocks that you may already have, that you are gifting over, or you can give them the cash to do so and open up their own account and feel involved in the process,” Prescod said. “For most folks [cryptocurrency] is not really the go to.”

Gift-givers can also contribute to 529 plans for college and other education expenses.

“It’s that gift that potentially can keep on giving,” Prescod said.

For those still interested in giving cryptocurrency, experts recommend doing research first.

“Like with everything, anywhere, you always want to do your research. You want to make sure to verify your sources. You never want to take financial advice from strangers or click on random links that you receive,” Tager said.

The National Cryptocurrency Association offers a crypto simulator that helps users learn how to choose an exchange, set up a wallet, and send and receive cryptocurrency without spending real money.

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Crypto

Visa Targets Banks and Fintechs With Stablecoin Advisory Launch as Adoption Pressure Tightens

Published

1 day ago

December 16, 2025

Press Room

Visa Targets Banks and Fintechs With Stablecoin Advisory Launch as Adoption Pressure Tightens

Visa is moving deeper into stablecoin-powered payments as adoption surges, launching a new advisory practice to help banks, fintechs, and enterprises design, assess, and deploy stablecoin strategies across global payment and treasury operations.