GameStop Corp., a struggling video-game retailer celebrated by retail traders during the meme stock craze in 2021, revealed plans approved by its board to include Bitcoin in its treasury reserves. This move reflects a growing trend among public companies that are using corporate funds to invest in Bitcoin, capitalizing on its rising value. The strategy, pioneered by Michael Saylor’s Strategy (formerly MicroStrategy), has seen significant success with over $40 billion in Bitcoin holdings and a surge in its share price.

GameStop's Chief Executive Officer, Ryan Cohen, hinted at this idea previously by sharing a picture with Saylor on a social media platform, leading to a 6% increase in GameStop's shares during after-hours trading. Other companies, ranging from medical tech providers to hotel developers, have been inspired by Strategy's success, with their stock prices soaring after they announced similar plans to invest in Bitcoin.

Though GameStop's core business is struggling, its interactions with meme-stock traders during the pandemic led to a surge in its stock prices due to short-squeezes on its shares. GameStop reported a 28% decline in fourth-quarter revenue to $1.28 billion, with hardware and software sales falling while collectible sales increased.