GameStop Adds Bitcoin as a Treasury Reserve Asset
GameStop's board changed the company's investment policy to permit Bitcoin as a treasury reserve asset, establishing the origin stage of a strategy later followed by dedicated financing and an actual Bitcoin purchase.
On March 25, 2025, GameStop disclosed that its board had unanimously approved an update to the company's investment policy adding Bitcoin as a permissible treasury reserve asset. The decision followed months of speculation but was the first formal corporate authorization.
The policy change did not mean GameStop had already purchased Bitcoin. It gave management authority to deploy cash and future financing into BTC under the updated investment framework, making March 25 the policy-adoption stage rather than the acquisition stage.
GameStop subsequently raised convertible-note capital in April with Bitcoin listed among possible uses and disclosed its first Bitcoin purchase in May. Keeping those stages separate shows how a public-company Bitcoin treasury strategy can progress from board policy, to financing, to actual deployment.