GameStop Acquires Bitcoin for Treasury Reserve

GameStop has taken a significant step in bolstering its financial strategy by acquiring $4,710 worth of Bitcoin as a treasury reserve asset. This action comes following the company’s March announcement that it would be adding cryptocurrency to its reserves. The purchase was disclosed through a filing with the Securities and Exchange Commission (SEC). GameStop’s first-quarter revenue declined significantly, dropping 17% compared to the same period last year, reaching $732.4 million. This acquisition is consistent with their previous announcement on May 28th.