GameStop board approves adding bitcoin as a treasury reserve asset, reports rise in profit

GameStop said on Tuesday that its board has uanimously approved the addition of bitcoin as a treasury reserve asset.

It also posted a rise in fourth-quarter profit, helped by the videogame retailer’s efforts to reduce costs and a faster turnaround in its mainstay of retailing videogame hardware and merchandise.

GameStop posted fourth-quarter net income of $131.3 million, compared to a net income of $63.1 million last year.