The poster child of
retail irrelevance, GameStop is betting on Bitcoin to level up its balance
sheet—and maybe its entire brand.
Game Over for Blockbuster. Will GameStop Be Next?
Remember Blockbuster? Of course not—you stream now. Then there was Netflix’s
DVD-by-mail era, which ended not with a bang but a quiet shipping label. These
were the titans of yesterday, felled by tech and an inability to evolve.
GameStop, long mocked as the next in line for the corporate graveyard, seems to
have read the writing on the wall—and unlike its defunct cousins, it’s trying
something different. Something digital. Something… decentralized.
Yes, GameStop is buying Bitcoin.
GameStop $GME is adding Bitcoin to their treasury.
They are adopting the winning Strategy.
The Golden Bull Run is happening. pic.twitter.com/hrBa6PXVDk— Michael Saylor
Founder of Strategy (Fan Account) (@SaylorBuysBTC) March 25, 2025
Seemingly in endless crisis, the video game retailer announced that it
will allocate a portion of its cash reserves into Bitcoin, effectively adopting
the cryptocurrency as a treasury reserve asset. It’s a bold move, one more
commonly seen in Silicon Valley boardrooms or on Elon Musk’s Twitter feed than
in the aging shopping mall outposts of America. The company didn’t just talk crypto; it walked the walk. GameStop says
it intends to hold Bitcoin long-term and may increase its position over time.
The move puts it in the same league as Tesla and MicroStrategy—well, maybe the
same gaming lobby.
Not Their First Rodeo
GameStop isn’t exactly new to market chaos. Its stock became the face of the
meme stock frenzy in 2021, when retail traders from Reddit’s WallStreetBets
launched it into the stratosphere as part of a short squeeze revolt against
institutional investors. For many, that was the last time GameStop felt
relevant—not for selling games, but for flipping the financial script.
So in a way, Bitcoin feels like a natural next chapter in GameStop’s
evolution. If you can’t beat Wall Street at its own game, why not invent a new
one on the blockchain ?
Besides, GameStop has been angling toward a broader tech transformation
for a while. It previously
dipped its toes into NFTs and hired e-commerce veterans from Amazon and
Chewy. Now, by putting Bitcoin on its books, it’s trying to signal that it’s
not just playing the game—it’s trying to change it.
A Holding Company with a Side Hustle?
Adding Bitcoin to a corporate balance sheet is no longer the fever dream it
once was. Tesla did it. Square (now Block) did it. MicroStrategy did it so hard
they’re basically a Bitcoin holding company with a side hustle in software.
But this isn’t without risk. Bitcoin is notoriously volatile, and
critics argue that using it as a treasury reserve is about as stable as
building a house on lava. Still, in a world where fiat currencies wobble under
inflation and central bank acrobatics, digital assets are gaining favor with
companies looking for alternative stores of value.
GameStop’s earnings were otherwise unremarkable. The company posted net
sales of $1.79 billion, a 19% drop from the year before, and missed Wall Street
expectations – you can find the filing here. So, yes—Bitcoin may also be serving as a distraction play. Or,
more charitably, as a bold Hail Mary.
One Last Boss Fight for Gamestop?
For all the laughs, GameStop’s move is more than just meme fodder. It reflects
a real strategy shift. The retailer is trying to survive in a world that
doesn’t need disc-based video games—or disc-based anything. And while pivoting
into crypto won’t fix its core challenges overnight, it does buy GameStop
something it hasn’t had in a long time: attention.
What is a must have for a day of gaming?
— GameStopNFT (@GameStopNFT) September 18, 2023
The last post on Gamestop’s NFT Twitter (sorry, X), feed.
Investors cheered the move, but the long-term value will depend on what
comes next. Will GameStop continue to invest in tech, streamline operations,
and become a digital-first business? Or will this Bitcoin bet go the way of its
NFT marketplace—buzzworthy at launch, but quickly forgotten?
Either way, GameStop’s not just sitting in the bargain bin waiting for
clearance anymore. It’s rolling the dice, giving themselves a shake—and hoping to
hold off the Game Over screen for as long as possible.
Visit our fintech section for more stories
of technology, finance and mail order DVDs.
The poster child of
retail irrelevance, GameStop is betting on Bitcoin to level up its balance
sheet—and maybe its entire brand.
Game Over for Blockbuster. Will GameStop Be Next?
Remember Blockbuster? Of course not—you stream now. Then there was Netflix’s
DVD-by-mail era, which ended not with a bang but a quiet shipping label. These
were the titans of yesterday, felled by tech and an inability to evolve.
GameStop, long mocked as the next in line for the corporate graveyard, seems to
have read the writing on the wall—and unlike its defunct cousins, it’s trying
something different. Something digital. Something… decentralized.
Yes, GameStop is buying Bitcoin.
GameStop $GME is adding Bitcoin to their treasury.
They are adopting the winning Strategy.
The Golden Bull Run is happening. pic.twitter.com/hrBa6PXVDk— Michael Saylor
Seemingly in endless crisis, the video game retailer announced that it
will allocate a portion of its cash reserves into Bitcoin, effectively adopting
the cryptocurrency as a treasury reserve asset. It’s a bold move, one more
commonly seen in Silicon Valley boardrooms or on Elon Musk’s Twitter feed than
in the aging shopping mall outposts of America. The company didn’t just talk crypto; it walked the walk. GameStop says
it intends to hold Bitcoin long-term and may increase its position over time.
The move puts it in the same league as Tesla and MicroStrategy—well, maybe the
same gaming lobby.
Not Their First Rodeo
GameStop isn’t exactly new to market chaos. Its stock became the face of the
meme stock frenzy in 2021, when retail traders from Reddit’s WallStreetBets
launched it into the stratosphere as part of a short squeeze revolt against
institutional investors. For many, that was the last time GameStop felt
relevant—not for selling games, but for flipping the financial script.
So in a way, Bitcoin feels like a natural next chapter in GameStop’s
evolution. If you can’t beat Wall Street at its own game, why not invent a new
one on the blockchain ?
Besides, GameStop has been angling toward a broader tech transformation
for a while. It previously
dipped its toes into NFTs and hired e-commerce veterans from Amazon and
Chewy. Now, by putting Bitcoin on its books, it’s trying to signal that it’s
not just playing the game—it’s trying to change it.
A Holding Company with a Side Hustle?
Adding Bitcoin to a corporate balance sheet is no longer the fever dream it
once was. Tesla did it. Square (now Block) did it. MicroStrategy did it so hard
they’re basically a Bitcoin holding company with a side hustle in software.
But this isn’t without risk. Bitcoin is notoriously volatile, and
critics argue that using it as a treasury reserve is about as stable as
building a house on lava. Still, in a world where fiat currencies wobble under
inflation and central bank acrobatics, digital assets are gaining favor with
companies looking for alternative stores of value.
GameStop’s earnings were otherwise unremarkable. The company posted net
sales of $1.79 billion, a 19% drop from the year before, and missed Wall Street
expectations – you can find the filing here. So, yes—Bitcoin may also be serving as a distraction play. Or,
more charitably, as a bold Hail Mary.
One Last Boss Fight for Gamestop?
For all the laughs, GameStop’s move is more than just meme fodder. It reflects
a real strategy shift. The retailer is trying to survive in a world that
doesn’t need disc-based video games—or disc-based anything. And while pivoting
into crypto won’t fix its core challenges overnight, it does buy GameStop
something it hasn’t had in a long time: attention.
What is a must have for a day of gaming?
— GameStopNFT (@GameStopNFT) September 18, 2023
The last post on Gamestop’s NFT Twitter (sorry, X), feed.
Investors cheered the move, but the long-term value will depend on what
comes next. Will GameStop continue to invest in tech, streamline operations,
and become a digital-first business? Or will this Bitcoin bet go the way of its
NFT marketplace—buzzworthy at launch, but quickly forgotten?
Either way, GameStop’s not just sitting in the bargain bin waiting for
clearance anymore. It’s rolling the dice, giving themselves a shake—and hoping to
hold off the Game Over screen for as long as possible.
Visit our fintech section for more stories
of technology, finance and mail order DVDs.
This post is originally published on FINANCEMAGNATES.
