GameStop, the well-known video game retailer, has been steadily shutting down stores across the U.S., and it seems they’re not done yet. Fresh off a series of closures in January, GameStop is gearing up to close even more locations as part of its broader strategy.
The company recently revealed in a filing that it plans to continue this trend, although they haven’t specified which stores will be affected. They’re in the midst of a “comprehensive store portfolio optimization review,” and from what they have shared, a “significant number” of closures are expected in the 2025 fiscal year.
In detail, GameStop explained, “Our thorough review of store portfolios includes evaluating various factors like current market conditions and the performance of individual stores. This evaluation led to the closure of 590 U.S. stores in fiscal 2024. We are still in the process of this review and while no specific list is out, we do anticipate a significant number of store closures in fiscal 2025.”
But that’s not all that’s on GameStop’s agenda. As they trim down their physical presence, they’re taking a bold step into the world of cryptocurrency. They’re planning to invest in digital currencies, such as Bitcoin, to use as a treasury reserve asset.
The company’s statement from March 25, 2025, reads: “Following updates to our Investment Policy, our Board has approved adding Bitcoin as a treasury reserve asset. This means we might use some of our cash or proceeds from future debt and equity issuances to invest in Bitcoin. We haven’t fixed a cap on the amount of Bitcoin we might acquire, and we may choose to sell any Bitcoin we acquire.”
Neil Saunders, an analyst at GlobalData Retail, shared his thoughts on this strategic pivot with CNN. He described the move as “a defense against irrelevance,” noting that it’s peculiar since it signals a shift from retail to positioning themselves more as a cryptocurrency investment entity.
(Source: CNN)
