Overview

• GameStop's board has unanimously approved Bitcoin as a treasury reserve asset, with no cap on the amount the company may acquire.
• The decision follows a proposal from Strive Asset Management and weeks of speculation fueled by CEO Ryan Cohen's social media hints.
• GameStop reported a Q4 net income of $131 million, a significant improvement from $63 million the previous year.
• The company's stock surged over 6% in after-hours trading following the announcement, reflecting investor enthusiasm.
• Speculative activity has spiked in unrelated GameStop-themed cryptocurrencies, underscoring the broader market reaction.