Gamestop, considering investing in Bitcoin, other crypto, say sources

Video game seller has become memes Gamestop He considers investing in bitcoins and other cryptocurrencies, according to sources who know this matter.

Gamestop is investigating investments in alternative asset classes, in particular crypto and bitcoins, they gave three sources. Gamestop shares increased by as much as 20% in extended news after news.

The seller could decide not to continue the investment. According to one source, the company is still in the process of determining whether it makes sense for Gamestop activities.

Last weekend General Director Ryan Cohen Published a photo on the social media website X with Michael Saylorco -founder and chairman MicrostrategyThe largest Bitcoin corporate owner. However, at the moment Saylor does not participate in the Gamestop discussion on cryptographic investments.

In 2022, Gamestop launched cryptocurrency portfolios that allow users to manage their cryptographic and non -financial tokes. However, the company closed the service in 2023, citing “regulatory uncertainty”.

Cohen, co -founder of the Chewa, bought actions at Gamestop in 2020 and joined the board in 2021, when Gamestop became one of the key shares of memes in trade mania. His experience of e-commerce fueled the hope that he could help modernize the brick retail seller, but the company is still trying to adapt to the changing expenses’ habits by players.

Under the leadership of Cohen Gamestop, he focused on reducing costs and improving the operation to ensure the company’s fee, although it does not grow. From November 2, the company accumulated a pile of cash worth $ 4.6 billion and used these funds for investments, in accordance with the December application of securities.

Companies considering adding Bitcoin to their balance will follow in the footsteps Microstrategy. This company, recently changed to a strategy, bought bitcoins worth billions of dollars in recent years, effectively transforming software shares into a Bitcoin vehicle.

The decision helped quickly increase, though unstable increase in strategy stocks.

In December 2023, the Gamestop Board approved the new “investment policy”. It allows Cohen, as well as two independent members of the management board and other necessary employees, managing the Gamestop securities investment portfolio. These investments must be in line with the policy guidelines or be approved by the committee by unanimous voting or full advice by most votes.