GameStop: No Bitcoin holding limit is set, and the Bitcoin holdings may be sold in the future

PANews March 26th news, according to Business Insider, GameStop had previously stated in a brief statement that the board of directors had passed the updated investment policy unanimously, using Bitcoin as the company's financial reserve asset. This move is not entirely unexpected, as there have been many rumors in the market over the past few weeks surrounding GameStop and its CEO Ryan Cohen’s Bitcoin layout.

In the 10-K file, GameStop revealed that the company may invest some of the proceeds from cash, debt or equity financing in Bitcoin in the future. "We have not set a limit on Bitcoin holdings and may sell the Bitcoin it holds." GameStop also released its fourth-quarter financial report on Tuesday night. Data shows that as of February 1, the company's revenue for the quarter was US$1.283 billion, a sharp decline from US$1.794 billion in the same period last year.