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GameStop's Cohen Sparks $4.6B Bitcoin Buzz

Coin WorldFriday, Feb 21, 2025 4:10 pm ET

1min read

GameStop CEO Ryan Cohen's recent actions have sparked speculation about a potential $4.6 billion Bitcoin move. While Cohen's move to acquire a significant stake in Bed Bath & Beyond was not a headline-grabbing event in itself, it has raised eyebrows among those familiar with his track record of bold business moves. This hints that Cohen might be eyeing a bigger role in the Bitcoin space.

Adding fuel to the fire, a photo emerged two weeks ago of Cohen with Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), a well-known advocate for Bitcoin. Saylor led his company in acquiring nearly half a million BTC. With Cohen now spending time with Saylor, speculation is rife that GameStop might be planning to adopt a similar Bitcoin strategy.

GameStop's potential Bitcoin move has been speculated since the 2021 meme-stock frenzy when retail investors sent its stock soaring. Some theorized that GameStop could pivot to crypto to harness its newfound retail power. Fast-forward to 2024, and GameStop's financial position has significantly improved, with $4.6 billion in cash and marketable securities. This cash reserve has fueled speculation that GameStop might use it to buy around 48,000 BTC. GameStop's investment policy allows CEO Ryan Cohen to make such moves without board approval, making a corporate Bitcoin acquisition seem well within the realm of possibility.

If GameStop were to acquire approximately 48,000 BTC, it would become the second-largest corporate Bitcoin holder, just behind MicroStrategy. This move would drastically alter GameStop's market position and transform it from a traditional retailer into a serious player in the cryptocurrency world. GameStop aligning with Bitcoin, a trend pioneered by MicroStrategy, could have far-reaching effects. For GameStop, it would signal a bold new direction, diversifying its revenue streams and potentially reshaping its relevance in an increasingly digital economy. For Bitcoin, the announcement of such a large-scale corporate acquisition could lead to a price surge and attract both institutional and retail investors.

However, it's important to stay grounded amidst the excitement. Despite the buzz, there has been no official confirmation from Cohen or GameStop about any Bitcoin acquisition. Sources state that Michael Saylor is not involved in any plans to purchase Bitcoin for GameStop, suggesting the rumors might be just that—rumors. Furthermore, GameStop

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Fit-Possibility-1045

02/22

$GME love this stock didn't even flinch while others are losing big

Roneffect

$AMC $GME DOGE is set to hit the SEC after investor attention https://franknez.com/doge-is-now-set-to-arrive-at-the-sec-following-investor-scrutiny/

GlobalEvent6172

@Roneffect alright

southernemper0r

02/21

@JamesBrownio @NastyPelosi a $5+ increase in 3.5 months. big deal! still $450+ below the all-time high from 4 years ago (1/28/21). might get a temporary boost from the next RK tweet. ill be taking small profits. $GME

whoisjian

@southernemper0r How long you planning to hold GME? Thinking of going long myself, but not sure if it's wise with the current market vibes.

PlentyBet1369

$MSTR This little drop today is just a preview of what's coming. Trump's government layoffs and tariffs will keep going. He's even teaming up with Putin. Interest rates are up. Home sales have slowed. Consumer confidence is tanking. Experts are predicting a stock market dip. That wasn't today. The sky isn't falling, but you'll get wet soon with MSTR. The good news is even the Titanic leveled off before it finally sank. https://www.cnbc.com/2025/02/21/steve-cohen-says-tariffs-and-doges-cuts-are-negative-for-economy-market-correction-could-be-soon.html

TheMushroomGuy

@PlentyBet1369 What's your take on GME's next move?

Ditty-Bop

@FatherofTrades $GME that's why I always check in with the good traders on every ticker. always something to learn

Zurkarak

$GME 4211 shares thanks for this opportunity 🙏🏻

Silgro94

$GME Options are expiring soon before the Earnings Report. Got your seats? You better have bought the dip!

Pin-Last

@Cheddar_Biscuits $GME doing alright 😏 had a good run recently though it's still down 38% this year and 73% in the last year pretty rough a dog dogsht penny stock

Mylessandstone69

@Pin-Last How long you been holding GME? You think it's gonna turn around or nah?

daarkann

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Ok-Swimmer-2634

$GME isn't doing the trick anymore. What a shame

CommonEar474

@Ok-Swimmer-2634 How long you been holding GME? Trying to gauge if it's just a bad timing or what.

meowmeowmrcow

$GME isn't doing the trick anymore. Such a shame.

maximalsimplicity

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zarrasvand

$GME can't wait to balance out and leave this mess. Not interested if it reaches 100.

sobfreak

@zarrasvand How long you planning to hold if $GME dips? Curious if you're thinking short-term flip or long-term play.

Eli9105

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Ok-Razzmatazz-2645

$GME rally is coming 🔥🚀