Strive CEO sends letter to GameStop, suggesting to include Bitcoin in company reserves to build 'the top Bitcoin treasury company in the gaming industry'

BlockBeats News: On February 26th, according to Nate Geraci, President of The ETF Store, Matt Cole, CEO of ETF publisher Strike, wrote a letter to Ryan Cohen, Chairman and CEO of GameStop on February 24th, suggesting that GameStop shift its nearly $5 billion cash reserves to Bitcoin and build the company into a "top Bitcoin treasury company in the gaming industry". Cole stated that GameStop has significantly reduced its operating losses in the past two years and has offset these deficits with interest income from cash holdings generated through equity financing. However, the company's core challenges still exist: the physical retail industry is declining and consumer preferences are shifting towards digital game downloads. As an asset management company that holds shares in GameStop through exchange traded funds, Strike believes that GameStop has an "incredible opportunity" to change its financial future by becoming a Bitcoin treasury company in the gaming industry. The letter mentioned that GameStop is considering purchasing Bitcoin and other cryptocurrencies to address business challenges, but Strike believes that executing strategies is crucial for success and has provided specific recommendations.