GameStop is rumored to be exploring Bitcoin and crypto investments after CEO Ryan Cohen posted a photo with Michael Saylor, the executive chairman of MicroStrategy, a company known for its massive Bitcoin holdings. The speculation comes as GameStop sits on $4.6 billion in cash with minimal liabilities, making a strategic crypto investment a plausible move.
Following the news, GameStop’s stock surged 11.3% in after-hours trading, while Bitcoin saw an uptick, briefly touching $96,700. Analysts suggest that if GameStop follows MicroStrategy’s Bitcoin playbook, it could experience similar long-term gains.
However, no official confirmation has been made. The market now waits for GameStop’s next move, as a potential crypto pivot could mark a significant shift for the company and its future strategy. Show Less
