GameStop clings to $528M in BTC after $18.5M loss: is BTC the best crypto to buy for treasury strategy?

2 days ago 41

GameStop has leaned on Bitcoin to steady its balance sheet, holding over half a billion dollars’ worth.

While BTC is being called the best crypto to buy by many, smaller altcoins like MAGACOIN FINANCE are also catching attention as undervalued picks that can diversify a treasury.

Bitcoin boosts GameStop’s balance sheet

GameStop’s decision to purchase Bitcoin has helped offset its second-quarter losses.

The company bought $500 million worth of BTC, and by the end of the quarter, those holdings grew to $528.6 million.

This gave GameStop an unrealized gain of $28.6 million, helping reduce its net loss to $18.5 million.

The firm now sits among a small group of listed companies using Bitcoin as a treasury strategy.

By pricing its holdings using Coinbase, GameStop has aligned with industry standards, joining firms like Strategy in treating Bitcoin as a reserve asset.

Hardware and software sales continued to slide, but collectibles brought in growth, surging 63% thanks to trading cards and exclusive partnerships.

These sales helped cushion weak demand for consoles.

Despite challenges, the addition of Bitcoin has allowed the company to balance its books more effectively, placing it on the radar of traders who are eyeing BTC as the best crypto to buy for corporate hedging.

GME stock rises as Bitcoin gains

Following its earnings release, GameStop’s stock climbed 1.5% during regular trading and spiked 7% after hours to $25.29.

Its market cap now stands at $10.55 billion. Despite this jump, the stock has barely moved over the past year, falling 1.38% overall.

Short interest remains high at nearly 68 million shares, which is about 15% of its float, keeping GME a favorite among traders betting on volatility.

To raise liquidity, GameStop sold $270 million in convertible bonds and left markets in Canada and France.

It now holds $6.1 billion in cash and equivalents, not counting crypto.

With Bitcoin up 18% since the company’s purchase, and predictions from analysts like the Winklevoss twins calling BTC the “modern gold” that could one day reach $1 million, the asset remains at the center of GameStop’s treasury hedge.

This makes many wonder: is Bitcoin truly the best crypto to buy for long-term security, or are smaller undervalued plays better?

MAGACOIN FINANCE: a different kind of best crypto to buy

For those looking beyond Bitcoin, MAGACOIN FINANCE stands out as an undervalued altcoin that could diversify treasury holdings.

Priced under $0.0005, it trades at levels where even small moves could cancel out two zeros.

This low entry point, combined with upcoming listings on both DEX and CEX platforms, makes it attractive for buyers who want exposure to something new while BTC climbs.

Its fundamentals add safety, with a legitimate setup and growing recognition as a hedge against bigger, slower assets.

With hourly price increases during this stage, it offers a way to capture upside that Bitcoin movements can trigger in smaller coins.

For treasuries and individuals alike, MAGACOIN FINANCE could easily rank among the best crypto to buy today.