After a few months far from the spotlight, Gamescop makes a thunderous return that leaves no one indifferent. The famous video game brand, which has become an icon of the “Even Stock” phenomenon, now plans to invest in Bitcoin. This rumor was enough to make the GME action of 20 % in After-Market. What delight Crypto investors, already in boiling after an enigmatic photo of Ryan Cohen with Michael Saylor.
GameStop and Bitcoin: Wedding of reason or risky bet?
Gamestop A Solana's same, whose financial health oscillates between hope and uncertainty, could soon join the very closed club of listed companies that hold bitcoin. According to several sources, the firm actively explores the Possibility of acquiring BTC with its $ 4.6 billion in cash flow.
A movement Who would recall that of Microstrategy, pioneer of the genre under the leadership of Michael Saylor.
If this strategy were to materialize, it would mark A turning point for GameStopwhich desperately seeks a viable economic model. Some see it as a master stroke to escape stagnation, others a hazardous plunge in the unknown.
The very skeptical Peter Schiff was not long in reacting:
“” Gamescop, a viable business plan, tries a last blow by announcing that it could buy bitcoin. The irony is that the BTC is even more overvalued than GME. »»
On the other side of the spectrum, investors, like Peter Hasselblad, support this idea fervor:
“” If Ryan Cohen does not set up a Bitcoin cash, it will be the stupcest decision in the history of the Stock Exchange. »»
Between enthusiasm and cynicism, Gamescop is more than ever at the heart of the debate.
Some key figures:
- GameStop saw its action almost double in a year;
- The announcement increased the title of 20 % in after-market;
- Microstrategy, renamed Strategy, currently has several billion dollars in BTC.
A new crypto adventure for GameStop
Gamestop's interest in the crypto was not born from nowhere. In 2022, the company had already attempted a foray into launching Crypto wallets to manage NFT and Tokens. A project aborted in 2023, officially because of a ” regulatory uncertainty ».
Today, the firm seems ready to retrieve experiencebut this time on a completely different level.
The involvement of Ryan Cohen, architect of the Renewal of Gamestop, is closely scrutinized. Since he joined the board of directors in 2021, the businessman has multiplied daring, but often criticized decisions.
The recent Publication of a photo with Michael Saylor On X only fired speculation. Even if the founder of Microstrategy has no official role in this strategic reflection, the parallel between the two companies is obvious.
GAMESTOP, which has so far focused on reducing costs and optimizing its operations, could well see in Bitcoin an opportunity for diversification and profitability.
It remains to be seen whether this bet will be a winner or if it will be yet another episode of the stock market series around GME.
Finally, Gamesop is no longer quite the same company. Formerly perceived as a dinosaur of suspended video games, the retail giant now explores unpublished paths. Ironically, a few months ago, his CEO Matt Furlong was dismissed, officially for his Crypto and Nft hints. Today, his replacement Ryan Cohen seems to want to take the same road … with, perhaps, better timing.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
