From CNBC: 2025-02-13 16:46:02

GameStop is considering investing in bitcoin and other cryptocurrencies, with shares soaring 20% after the news. CEO Ryan Cohen recently posted a photo with Michael Saylor, but Saylor isn’t involved in GameStop’s crypto discussions. GameStop shut down its crypto wallet service in 2023 due to regulatory uncertainty. Under Cohen’s leadership, GameStop has focused on cutting costs and streamlining operations to ensure profitability. MicroStrategy’s decision to add bitcoin to its balance sheet has fueled a rise in its stock. GameStop’s board approved a new “investment policy” in December 2023, allowing Cohen and others to manage the company’s portfolio of securities investments.

Read more: GameStop is considering investing in bitcoin and other cryptocurrencies, sources say