{"id":47372,"date":"2025-02-14T02:43:20","date_gmt":"2025-02-14T02:43:20","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/gamestop-shares-surge-after-reports-of-possible-plans-to-explore-bitcoin-and-crypto-investments\/"},"modified":"2025-02-14T02:43:20","modified_gmt":"2025-02-14T02:43:20","slug":"gamestop-shares-surge-after-reports-of-possible-plans-to-explore-bitcoin-and-crypto-investments","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/gamestop-shares-surge-after-reports-of-possible-plans-to-explore-bitcoin-and-crypto-investments\/","title":{"rendered":"GameStop shares surge after reports of possible plans to explore Bitcoin and crypto investments"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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Video game retailer and meme stock GameStop is considering investments in bitcoin and other cryptocurrencies, according to a CNBC report.<\/p>\n

Following the news, GameStop shares surged as much as 20% in after-hours trading. Since then, the stock has cooled off and trades are around 7% higher.<\/p>\n

The meme stock has had a rough start to the year. GameStop stock has slumped around 15% since the start of 2025.<\/p>\n

GameStop’s crypto ambitions<\/h2>\n

GameStop is evaluating potential investments in alternative asset classes, particularly crypto and bitcoin. <\/p>\n

However, the company has yet to make a final decision, with discussions still underway on whether such investments align with its business strategy, the report said citing sources.<\/p>\n

This news follows a social media post last weekend by CEO Ryan Cohen, who shared a photo with Michael Saylor, chairman of Strategy (formerly MicroStrategy)\u2014the largest corporate holder of Bitcoin. <\/p>\n

Despite the speculation, sources clarified that Saylor is not involved in GameStop\u2019s cryptocurrency discussions.<\/p>\n

GameStop has dabbled in the crypto space before. In 2022, it launched crypto wallets for managing cryptocurrencies and NFTs, only to shut the service down in 2023, citing \u201cregulatory uncertainty.\u201d<\/p>\n

The company had also launched an NFT marketplace, which was eventually shuttered in January 2024, due to similar regulatory concerns.<\/p>\n

If GameStop decides to invest in Bitcoin, it would follow a path similar to MicroStrategy, which transformed from a software company into a major Bitcoin holding vehicle.<\/p>\n

While the move fueled volatility, it also contributed to significant growth in MicroStrategy\u2019s stock value.<\/p>\n

GameStop\u2019s under Cohen<\/h2>\n

In 2021, GameStop became the poster child for the meme stock phenomenon, as retail investors on Reddit’s WallStreetBets forum rallied to inflate its stock price and execute a short squeeze that led to the collapse of Melvin Capital Hedge Fund.<\/p>\n

Ryan Cohen, co-founder of Chewy, began investing in GameStop in 2020 and joined its board in 2021 during the height of the meme stock frenzy. <\/p>\n

His background in e-commerce fueled optimism that he could transform the brick-and-mortar retailer to compete in the digital era.<\/p>\n

However, the company continues to face challenges in adapting to evolving consumer spending habits among gamers.<\/p>\n

Despite these struggles, GameStop\u2019s stock remains highly volatile and speculative, with continued support from retail investors, driven in part by the influence of the meme stock figure “Roaring Kitty.”<\/p>\n

Under Cohen\u2019s leadership, GameStop has focused on cost-cutting and operational efficiency to ensure profitability amid slow revenue growth. <\/p>\n

As of November 2023, the company had a $4.6 billion cash reserve, according to a securities filing. <\/p>\n

These funds have been used for various investments, in line with a new investment policy approved by GameStop’s board in December 2023.<\/p>\n

The policy allows Cohen, along with two independent board members, to manage the company’s securities portfolio within set guidelines. Any deviation requires either unanimous committee approval or a majority vote from the full board.<\/p>\n

The post GameStop shares surge after reports of possible plans to explore Bitcoin and crypto investments<\/a> appeared first on Invezz<\/a><\/p>\n

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(Originally posted on : Invezz ) Video game retailer and meme stock GameStop is considering investments in bitcoin and other cryptocurrencies, according to a CNBC report. Following the news, GameStop shares surged as much as 20% in after-hours trading. Since then, the stock has cooled off and trades are around 7% higher. The meme stock […]<\/p>\n","protected":false},"author":3947362387,"featured_media":47373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[37],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47372"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362387"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=47372"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47372\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/47373"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=47372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=47372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=47372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}