GameStop Considers Bitcoin Investment Amid Stock Surge

According to PANews, GameStop, a prominent game retailer, is exploring the possibility of investing in Bitcoin (BTC) and other cryptocurrencies. Sources indicate that the company is assessing whether this investment strategy aligns with its business objectives. Following this news, GameStop's stock experienced a 20% increase in after-hours trading. However, the company has not yet made a final decision on implementing this plan. Last weekend, GameStop CEO Ryan Cohen shared a photo on the X platform with MicroStrategy co-founder Michael Saylor. Although Saylor is not involved in GameStop's cryptocurrency investment discussions, MicroStrategy has acquired billions of dollars in BTC in recent years, becoming a major corporate holder. In 2022, GameStop launched a cryptocurrency wallet business, which was shut down in 2023 due to regulatory uncertainties. Currently, the company holds $4.6 billion in cash reserves and approved a new investment policy at the end of 2023, allowing management to invest in securities assets that meet specific guidelines.