GameStop is exploring the possibility of investing in Bitcoin and other cryptocurrencies.

GameStop is considering investing in bitcoin and other cryptocurrencies, as the company explores alternative asset classes, particularly cryptocurrencies and bitcoin.

The company has not yet decided whether to make an investment, and is still evaluating whether the move would align with its business direction. GameStop CEO Ryan Cohen posted a photo on social media platform X over the weekend of himself with Michael Saylor, co-founder and chairman of MicroStrategy, which is the largest publicly traded company to hold bitcoin. However, the people said Saylor is not currently involved in GameStop's discussions about investing in cryptocurrencies.

GameStop previously launched a cryptocurrency wallet in 2022 that allowed users to manage their digital assets and NFTs, but closed the service in 2023 due to "regulatory uncertainty." Cohen began buying GameStop shares in 2020 and joined the board in 2021, when the company became a popular meme stock. His e-commerce experience had raised hopes that GameStop could modernize its physical retail operations, but the company is still struggling to adapt to changing consumer habits among gamers.

Under Cohen's leadership, GameStop has focused on cutting costs and streamlining operations to ensure the business is profitable, and has amassed $4.6 billion in cash by November 2, 2025, which it has been investing.

If GameStop decides to invest in bitcoin, it would follow the lead of MicroStrategy, which has bought billions of dollars of bitcoin in recent years and has effectively transformed itself from a software company into a bitcoin investment company. The decision has propelled MicroStrategy's stock price higher, though it has been volatile.

In December 2023, GameStop's board approved a new "investment policy" that allows Cohen and two independent board members, along with any necessary personnel, to manage the company's investment portfolio.