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Bitcoin is apparently being considered for inclusion in the assets of GameStop, the video game company that attracted a lot of interest from retail traders in 2021. As to CNBC, the business is investigating possible investments in Bitcoin and other unidentified cryptocurrencies.
The previous week has seen a roughly 5.5% increase in GameStop’s (GME) stock. Following a social media post by CEO Ryan Cohen featuring a photo of himself with Michael Saylor, the creator of MicroStrategy (MSTR) and a well-known Bitcoin booster, the spike occurred.
The business is still in the early phases of assessing bitcoin investments, according to an unnamed person close to GameStop. Additionally, GameStop may decide in the end not to incorporate digital assets.
In 2022, GameStop made its first foray into the cryptocurrency market by introducing a digital wallet. But because of persistent regulatory uncertainty, the corporation closed it in 2023.
Investors are keeping a careful eye on whether GameStop will enter the Bitcoin market or decide to stay out of it as conjecture grows.