Gamestop CEO announces to invest an additional $1.3 billion dollars into their Bitcoin holdings.

Gamestop (GME, a specialty retailer in video games, game consoles, and collectibles industry), has recently announced earlier this week that it would begin accumulating bitcoin as a “treasury reserve asset” following the footsteps of Donald Trump’s newly announced “Strategic Bitcoin Reserve.”

As GameStop has joined the list of multiple companies to add Bitcoin to their holdings, on March 25th, Michael Saylor, owner of Strategy, has encouraged the company to accumulate more.

Today, Gamestop has recently announced that they are going to accumulate another $1.3 billion dollars in Bitcoin to their holdings, which has instantly shot the stock (GME) up by 14%.

In a new recent interview with Ryan Cohen  the CEO of Game Stop, he comments that he sees Bitcoin being “the future of finance” and says that “as a company in the gaming world, we can see Bitcoin and crypto being the future development of Web3 Gaming.” Cohen has then mentioned that he wants to integrate the corporate’s equity into digital assets, mentioning the surge of “memecoins,” which are digital tokens that have taken rise over the past few years. Cohen states “Among the board of directors, talks about developing a Game Coin have been discussed  few of our conferences”

There has been some questions though from other financial advisors, such as Wedbush analyst Michael Pachter who told Yahoo Finance “The company’s strategy, which has changed about six times in three years, is they’re going to buy cryptocurrency and be just like MicroStrategy,”Now, in addition to its increasing commitment to new Bitcoin, GameStop’s decision to integrate the cryptocurrency into its operations, highlights the company’s shift towards embracing emerging technologies and financial systems. This unique and in some cases hyperbolic moves toward Bitcoin aligns with a broader trend among legacy companies that are exploring the potential of digital assets to enhance their financial strategy. GameStop, which was then known primarily for its brick and mortar retail presences in the gaming sector, is now positioning itself as a new player in the cryptocurrency spaces. This transformation could play a significantly important role in reshaping the company’s brand identities, appeal, and especially among younger, more tech savvy investors as well as customers who are already immersed in digital currencies and Web3 technology.

This newly made decision to integrate such Bitcoins into GameStop’s reserves could also signal a long term processed commitment to expanding its role in the interesting and ever changing blockchain ecosystem and space as a whole. As these Web3 technologies continues to gain traction as we’ve seen, many gaming companies are exploring decentralized finance (DeFi) and other blockchain based solutions to further their abilities to compete. GameStop’s entry into such a unique space could open immense doors for potential partnerships and innovations that integrate these crypto payments,and non-fungible tokens (NFTs), even decentralized gaming platforms could be integrated. These previously discussed unique developments could allow GameStop to attract a new generation of gamers who are not just looking for entertainment but also for ways to engage with games in a more interactive and financial way.