GameStop Corp., the U.S.-based video game retailer, has acquired 4,710 bitcoins as part of its entry into the cryptocurrency market.
Shares of GameStop surged over 4% following the news of the crypto investment, with the company confirming an unlimited Bitcoin buying plan as part of its growth strategy.
CEO Ryan Cohen pointed out the reasons behind the Bitcoin investment, citing factors like limited supply, decentralization, and international accessibility.
GameStop's move into Bitcoin reflects a larger trend of companies adding digital assets to their portfolios, signaling a strategic shift and belief in the future of cryptocurrencies.