A general view of the Gamestop logo in one of his shops in the city center of Cologne.
Ying Tang | Nurphoto | Getty pictures
Video game dealer Gamestop Terminated on Tuesday that his board unanimously approved a plan for buying Bitcoin with his company money and repeated a step that was famous by Microstrategy.
The Meme share rose by more than 6%in extended trade on Tuesday after the news. The announcement confirmed CNBC's reporting in February of Gamestop's intent to include Bitcoin and other cryptocurrencies.
The retailer for video games said that part of his cash or future debts and the capital edition could be invested in stable coins in Bitcoin and US dollar. From February 1, Gamestop kept almost 4.8 billion US dollars in cash. The company also said that there was no blanket on the amount of Bitcoin that it can acquire it.
Gamestop follows in the footsteps of the software company Microstrategy, which is known today as a strategy and which Bitcoin has bought billions of dollars in recent years in order to become the largest company owner of the flagship cryptocurrency. This decision prompted a quick, although volatile increase for the shares of the strategy.
Gamestop's entry into cryptocurrencies marks the recent effort of CEO Ryan Cohen to revive the fighting inpatient business. After Cohen's leadership, Gamestop has focused on reducing costs and optimizing the company to ensure that the company is profitable.
The company said that the move could expose him to volatility in connection with cryptocurrency prices.
“Bitcoin, for example, is a very volatile capital and has experienced significant price fluctuations over time. Our Bitcoin strategy has not been tested and can prove to be unsuccessful,” said Gamestop in a submission of US security and stock exchange commissions.
Bitcoin, the world's largest cryptocurrency, has won a re -election since President Donald Trump. After Bitcoin shot and pierced the milestone of 100,000 US dollars, he dropped from his record high of his record high of around 88,000 US dollars.
In Tandem with the announcement of the cryptocurrency, the investors also cheered up an increase in the results of the fourth quarter of Gamestop. The company reported a net result of $ 131.3 million, more than twice the 63.1 million earned in the same quarter of the previous year.