Video game retailer GameStop Corporation intends to invest in Bitcoin after receiving unanimous approval from its board to acquire digital assets.
According to a CNBC report dated March 25, the company announced plans to use some of its corporate cash or future debt issues to invest in Bitcoin and stablecoins pegged to the US dollar.
This strategy was confirmed in the company's fourth quarter earnings report, also released on March 25, which indicated its intention to acquire Bitcoin and stablecoins.
The financial report noted:
"[T]he Company’s investment policy permits investments in certain cryptocurrency assets, including Bitcoin and US dollar-denominated stable coins."