GameStop Adopts Bitcoin as Reserve Asset; Blockchain Group Adds 580 BTC Amid Market Moves

On March 26, GameStop announced its board's unanimous approval to adopt Bitcoin as a reserve asset, causing its shares to surge over 11% to $28.39 on the NYSE. This decision overshadowed quarterly results showing earnings per share of $0.29, exceeding expectations, but a revenue decline to $1.283 billion from $1.79 billion year-over-year. Simultaneously, France-based The Blockchain Group announced the addition of 580 Bitcoin to its treasury, valued at $50.64 million, following a 225% stock price increase since November. This purchase, the largest of three, occurred as Bitcoin traded at $87,311. GameStop plans to finance its Bitcoin strategy through a $1.3 billion convertible notes offering.