After the listed company AGAE established a digital asset treasury, its stock price rose by 105%

ChainCatcher news, according to The Block, shares of Nasdaq-listed gaming company Allied Gaming & Entertainment (stock code AGAE) rose over 100% on Friday after the company announced its first investment in Bitcoin and Ethereum as part of its corporate treasury management strategy.

The company stated that this move is the first step in incorporating cryptocurrency into its balance sheet, laying the groundwork for "broader blockchain and real-world asset (RWA) tokenization initiatives." During trading, the stock peaked at $2.18, and at the time of writing, it was trading at approximately $1.73, up 89%, with a market capitalization of about $73 million.