GameStop share price is bouncing after revealing plan to buy Bitcoin in ‘untested’ strategy which it admits ‘may prove unsuccessful’

Quick Summary:

GameStop confirmed speculation that it would be spending some of its cash reserves on Bitcoin in an SEC filing yesterday.

In 2021 GameStop made headlines when retail investors—connected via social media platform Reddit—coordinated a share purchase program after noticing institutional investors were offloading the stock.

GME could buy a lot of Bitcoin if it wished: The SEC filing this week confirmed that as of February 1, the business held nearly $4.8 billion in cash.

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Article Details

Author / Journalist: Eleanor Pringle

Category: EconomyBusiness

Markets: United States

Topics: Bitcoin Cryptocurrency GameStop

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-26 @ 15:56:14 (5 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 663 words

Reading Time: 4 minutes read

Sentences: 4 lines

Sentence Length: 166 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27355637

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Official Website: fortune.com

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