Photo: Victor J. Blue
Main takeout
- Gamestop is considering investing in Bitcoin and other digital assets, but the decision has not been made.
- Gamestop’s bitcoin conversation occurs when the company faces operational problems.
Share this article
A few days after the Gamestop CEO Ryan Cohen and Bitcoin Bull Michael Saylor met, the news is currently considering adding bitcoin and other encryption assets to the portfolio.
CNBC cited three sources on Thursday and reported that Gamestop is setting a sight of digital asset investment. The most well -known video game retailer, the Historic 2021 Short Squeeze, recorded a cash reserve of about $ 4.6 billion during the third quarter of 2024.
But Saylor is at least not part of the company’s internal dialogue on Crypto at this stage. And even during this discussion, the company ultimately can decide on all investments.
Can Bitcoin get a Gamestop from the retail struggle?
GAMESTOP is exploring Bitcoin and encryption investment despite being sitting in a $ 4.6 billion cash pile in 3Q, in 3Q. Game retailers’ hardware and software segments were less than the previous year.
As the digital game download continues to reconstruct the game retail environment, the company’s brick and sporting business models face pressure.
According to the pursuit of Alpha Analysis, Gamestop’s core business reduction is well matched to the Pivot to become a “Bitcoin Consumer Bank” to increase the inventory value.
Gamestop stocks (GME) surged by 20% in the recent Bitcoin report, depending on the Yahoo Finance.
The retailer previously adventured digital assets and started the NFT marketplace in July 2022 to trade digital collections. However, Gamestop scaled this initiative in early 2024 and quoted “regulatory uncertainty.” The company also stopped the cryptocurrency service in late 2023 due to regulatory issues.
In January, Gamestop’s Board of Directors approved the revised investment policy and granted a wide range of authority to invest in stocks and other assets to CEO Ryan Cohen and his team, and expanded to short -term investment -grade income securities beyond the previous limit.
Share this article