Altcoins News
By Steven Anderson
1 / 11
Why GameStop Won't Budge. GameStop started buying Bitcoin several years back to hedge against regular market swings, and…
2 / 11
Market Reality Check. Bitcoin's volatility doesn't seem to worry GameStop much.
3 / 11
GameStop won't sell. The video game retailer confirmed Tuesday it's hanging onto 4,710 Bitcoin, currently worth around $368 million, during its quarterly earnings call that…
4 / 11
The company dropped the crypto bombshell while reporting $1.2 billion in fourth-quarter revenue, giving investors a rare peek at its digital asset strategy.
5 / 11
Board member Larry Cheng called it a "long-term play" in a recent interview. He said GameStop believes crypto can transform business and they're ready to pivot as markets shift.
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The timing's pretty interesting. GameStop hinted at potential partnerships with blockchain firms the same day as earnings, though nothing's set in stone.
7 / 11
Bitcoin's volatility doesn't seem to worry GameStop much. The digital currency's been on a wild ride, but the company's investment has paid off so far - contributing positively…
8 / 11
GameStop declined to comment on specific future investment strategies. Reached for comment about diversifying into other cryptocurrencies, the company didn't respond.
9 / 11
When pressed for details during the earnings call, Jajeh kept things vague. She said GameStop's "exploring various options" but wouldn't commit to any timeline for additional…
10 / 11
The crypto strategy fits GameStop's broader push to modernize its business model. The retailer's been trying to shake off its brick-and-mortar image for years, and Bitcoin…
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GameStop's management team seems pretty confident about the long-term prospects, even as crypto markets stay unpredictable.
The Currency Analytics
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