In brief
- Allied Gaming & Entertainment has started investing into Bitcoin and Ethereum for its treasury.
- The publicly traded firm’s stock price briefly doubled on Friday following the announcement.
- Many companies have started amassing crypto, following the model pioneered by Bitcoin giant Strategy.
Allied Gaming & Entertainment, a Nasdaq-listed esports and gaming company, announced that it has invested in Bitcoin and Ethereum as part of a new “corporate treasury management strategy.”
In response, its stock, traded under the ticker AGAE, soared 105% to $1.87 earlier Friday and has since dipped to $1.65, according to TradingView—still up 71% on the day.
The company explained that this was just the “first step” to incorporating…
Sep 12 2025
