Jul 15, 05:39 PM

GameStop Amasses $500 Million in Bitcoin, Weighs Crypto Payments

GameStop Corp. chief executive officer Ryan Cohen said the video-game retailer has accumulated 4,710 Bitcoin—an investment he valued at just over $500 million—and is considering expanding its use of digital assets beyond the balance sheet. Speaking on CNBC, Cohen described the Bitcoin holding as a hedge against inflation and global liquidity expansion, adding that the company will only deploy capital "where the downside is limited and there’s a lot of upside." Cohen emphasized that GameStop will follow its own “unique strategy” rather than emulate MicroStrategy’s large-scale Bitcoin treasury approach. The company ended its latest quarter with more than $9 billion in cash and marketable securities after recent capital raises, giving it flexibility for further investments. Beyond Bitcoin, GameStop is exploring accepting cryptocurrency payments for trading-card sales and will evaluate a range of tokens if customer demand materializes, Cohen said. The comments mark GameStop’s most explicit outline to date of how it may integrate crypto into both its finances and operations.

#Ryan Cohen #Bitcoin #CNBC #Cohen #GameStop #MicroStrategy

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GameStop Amasses $500 Million in Bitcoin, Weighs Crypto Payments

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