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GameStop Explores Bitcoin Investment, Stock Surges 20%

Coin WorldThursday, Feb 13, 2025 5:42 pm ET

1min read

GameStop, the iconic video game retailer, is reportedly exploring an investment in Bitcoin and other cryptocurrencies, according to unnamed sources cited by COINOTAG News. The company is currently in the early stages of evaluating how such an investment aligns with its broader business strategy, and no concrete decisions have been made yet. Following this news, GameStop's stock price surged by up to 20% in after-hours trading.

Over the weekend, GameStop CEO Ryan Cohen was seen engaging with Michael Saylor, the chairman of MicroStrategy, on social media. While this interaction sparked speculation about a potential collaboration, insiders clarified that Saylor is not involved in any discussions regarding GameStop's crypto initiatives. In the past, GameStop had launched a cryptocurrency wallet in 2022 but discontinued the service in early 2023 due to regulatory uncertainties. Despite this setback, the company maintains a substantial cash reserve of $4.6 billion and has implemented a new investment policy to facilitate future opportunities.

GameStop's potential foray into the cryptocurrency market comes as the industry continues to gain traction and attract mainstream attention. As the company assesses the potential benefits and risks of investing in Bitcoin and other cryptocurrencies, it is essential for investors and stakeholders to monitor the situation closely. The outcome of GameStop's exploration could have significant implications for the future of the company and the broader cryptocurrency market.

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WellWe11Well

02/14

$GME FOMO today! We should've taken profits last month but they kept us from doing so.

Intelligent-Snow-930

$MSTR This is like the third positive post I’ve seen today, wondering if there’s something going on. Not finding anything solid. So are these just based on gut feelings? Just to clarify, I don’t dismiss gut feelings!

rareinvoices

@Intelligent-Snow-930 Not sure, just vibes maybe.

careyectr

@Intelligent-Snow-930 Nah, gotta research more.

goldeneye700

$MSTR if you didn't grab it when it was cheap, you're just unlucky

Brilliant_User_7673

@goldeneye700 How long you holding $MSTR? Curious if you're in for the long haul or just flipping.

Sensitive_Chapter226

@goldeneye700 Grabbed $MSTR early, but sold too soon. Regretted it when it mooned. FOMO is real, man.

bnabin51

02/13

I'm holding a bit of $GME and betting on their strategic play. Diversifying into crypto next. Stay tuned.

josh252

GME's $4.6B war chest is ready for battle.

TenMillionYears

@josh252 😂

serenity561

GME's crypto move could be a game-changer.

SmallVegetable4365

If GME dives into Bitcoin, might see a new class of gamers stacking $GME like digital collectibles. HODL on, folks.

PhilosophyMassive578

@SmallVegetable4365 What do you think about GME's potential impact on BTC?

raool309

GME's crypto move feels like a high-risk, high-reward power play. Are they trying to level up or get wrecked?

hey_its_meeee

Retail traders smell blood; GME might moon soon.

Puginator

Main question: Will GME's foray into crypto attract more retail traders or scare them off? Only time will tell.

Euro347

@Puginator Attract or scare? Only time tells.

JRshoe1997

$GME's CEO Ryan Cohen seems to be playing 4D chess with crypto. Saylor chat just added fuel to the fire.

Mean_Dip_7001

GME and crypto? 🤔 Could be a moonshot or a black hole. Always do your own research before jumping in.

DrSilentNut

GME's $4.6B cash reserve is no chump change. They could really swing for the fences with that kind of moolah.

pellosanto

@DrSilentNut That cash reserve ain't doing much sitting tight.

Argothaught

If GME goes all-in on Bitcoin, might shift their risk profile big time. 🚀 Or maybe they're just whaling for meme stock stonks.

Current_Attention_92

GME's crypto move could be a game-changer or a total glitch. Let's see if they can pull it off without getting rekt.