GameStop marks 1 year of holding bitcoin with a $130M loss amid lowest sales in 20 years

GameStop recently celebrated one year since it began holding bitcoin as a treasury asset, but the move has not been financially beneficial. The videogame retailer reported a loss of over $130 million on its bitcoin holdings last year, coinciding with its lowest annual sales in two decades. The company initially purchased 4,710 bitcoin starting in May last year as part of a new investment policy. This significant loss highlights the risks of holding volatile digital assets as part of corporate reserves.