Key Point 👉
- GameStop is exploring investments in alternative asset classes, including crypto and bitcoin in particular, three sources said.
- The company is still in the process of figuring out if this makes sense for GameStop’s business, according to one source.
- Last weekend, CEO Ryan Cohen posted a photo on social media site X with Michael Saylor, co-founder and chairman of MicroStrategy, the largest corporate holder of bitcoin.
GameStop, the video game retailer known for its transformation into a meme stock, is considering investing in Bitcoin and other cryptocurrencies, according to sources familiar with the matter.
The company is reportedly evaluating whether such an investment aligns with its business strategy. Following the news, GameStop’s stock surged by as much as 20% in after-hours trading. However, sources indicate that the company has yet to make a final decision on whether to proceed with crypto investments.
Last weekend, GameStop CEO Ryan Cohen fueled speculation by posting a social media photo with Michael Saylor, co-founder of MicroStrategy—the largest corporate holder of Bitcoin. However, sources clarified that Saylor is not directly involved in GameStop’s crypto discussions.
GameStop has dabbled in digital assets before. In 2022, it launched a crypto wallet service that allowed users to manage cryptocurrencies and NFTs. However, the company shut down the service in 2023, citing regulatory uncertainty.
Since Cohen’s involvement with GameStop, the retailer has focused on cost-cutting and operational efficiency rather than aggressive growth. As of November 2024, the company had accumulated $4.6 billion in cash reserves, which it has been using for strategic investments.
If GameStop proceeds with adding Bitcoin to its balance sheet, it would follow in the footsteps of MicroStrategy, which has pivoted into a Bitcoin-focused investment vehicle.
In December 2023, GameStop’s board approved a new investment policy allowing Cohen and a select group of board members to manage the company’s securities portfolio. Any crypto-related investment would require approval by this committee or the full board.
- Tottenham’s Busy Summer Continues as Omar Marmoush Becomes Eighth Signing
Spread the love It’s been a busy transfer window for Spurs as Omar Marmoush becomes their 8th… Read more: Tottenham’s Busy Summer Continues as Omar Marmoush Becomes Eighth Signing - RUSSIA-UKRAINE WAR: EIGHT SCENARIOS THAT COULD DECIDE HOW THE CONFLICT ENDS
Spread the loveReports that CIA Director John Ratcliffe may have travelled to Moscow have triggered fresh speculation… Read more: RUSSIA-UKRAINE WAR: EIGHT SCENARIOS THAT COULD DECIDE HOW THE CONFLICT ENDS - MOURINHO’S NEW ERA: REAL MADRID LEAVE IT LATE
Spread the loveJose Mourinho’s return to competitive football with Real Madrid got off to a dramatic start… Read more: MOURINHO’S NEW ERA: REAL MADRID LEAVE IT LATE - Real Madrid escape first league week Drama at Espanyol. Spread the loveJose Mourinho’s first competitive match of his second spell as Real Madrid manager ended with… Read more: Real Madrid escape first league week Drama at Espanyol.Â
- MARESCA ERA STARTS WITH LAST-GASP CITY DRAMA AS VILLA SUFFER 4–0 HUMILIATION.Spread the loveManchester City have opened the post-Pep Guardiola era with a dramatic 2–1 victory over Bournemouth,… Read more: MARESCA ERA STARTS WITH LAST-GASP CITY DRAMA AS VILLA SUFFER 4–0 HUMILIATION.
- Premier League Has Lost Its Fear Factor: Nobody Is Safe This Season
Spread the loveManchester City’s post-Pep Guardiola era began with late drama as Josko Gvardiol’s stoppage-time winner secured… Read more: Premier League Has Lost Its Fear Factor: Nobody Is Safe This Season - Using bigger goals to increase motivation.
Spread the love Do You Need to Aim Higher? Are you struggling to stay motivated on your… Read more: Using bigger goals to increase motivation. - Wednesday Legs + Core is here — 20 min, no equipment.Spread the loveFocus: Legs + CoreHow hard: 7/10 — legs steady burn, core tight. You should be… Read more: Wednesday Legs + Core is here — 20 min, no equipment.<br>
- Infantino Faces Growing Opposition as FIFA Election Battle Intensifies.
Spread the loveThe battle for control of world football is heating up. FIFA president Gianni Infantino is… Read more: Infantino Faces Growing Opposition as FIFA Election Battle Intensifies. - EU Overhauls Driving Licence Rules, Austria Faces Phased Rollout
Der EU-Führerschein wird digital: Ab 2029 kommen europaweit neue Regeln für Autofahrer. Neben dem Smartphone-Führerschein stehen Änderungen für E-Autos bis 4,25 Tonnen, Automatik-Führerscheine und begleitetes Fahren ab 17 bevor. Auch schwere Verkehrsdelikte sollen künftig EU-weit strengere Folgen haben. Für Österreich bedeutet das eine schrittweise Reform mit weitreichenden Änderungen für Millionen Autofahrer. - Premier League’s Most Expensive XI Earns an Incredible £3.37 Million Per Week.
Spread the loveThe Premier League’s wage bill continues to reach extraordinary levels. For the 2026/27 season, a… Read more: Premier League’s Most Expensive XI Earns an Incredible £3.37 Million Per Week.
