'Bitcoin Accumulation Declaration' GameStop Surges 7% in OTC Market

Uk Jin

Summary

GameStop announced that investor sentiment has strengthened as it added Bitcoin to its balance sheet.
GameStop reported that it recorded a stock price increase of over 7% in the OTC market.
Matt Cole, CEO of Strive, explained that he believes GameStop's Bitcoin accumulation can achieve financial improvement.

The major US game chain GameStop is showing an upward trend in the over-the-counter market. It is analyzed that investor sentiment has strengthened as GameStop's addition of Bitcoin (BTC) to its balance sheet has been formalized.

On the 25th (local time), GameStop is trading at $27.19, up 7.05% from the closing price on the New York Stock Exchange.

A few hours earlier, GameStop announced in a shareholder letter sent with its earnings report that the board of directors had unanimously passed the matter of incorporating Bitcoin as a reserve.

Last month, rumors began to circulate that GameStop could incorporate Bitcoin as a reserve asset after Ryan Cohen, GameStop's CEO, posted a photo on social media (SNS) with Michael Saylor, CEO of Strategy.

Strive, a US asset management company known as a shareholder of GameStop, also directly urged GameStop to accumulate Bitcoin. At that time, Matt Cole, CEO of Strive, explained, "We believe GameStop can achieve financial improvement by purchasing Bitcoin."

BTC