GameStop Considers Investment in Cryptocurrencies

GameStop, the troubled video game retailer and meme stock favorite from the pandemic, is reportedly exploring investments in cryptocurrencies, particularly Bitcoin, according to CNBC.

Sources indicated that GameStop is looking into alternative asset classes, including crypto. Keith Gill, known as “Roaring Kitty,” and the subreddit WallStreetBets were pivotal during the 2021 meme stock surge, where GameStop, AMC, and cryptocurrencies like Dogecoin experienced significant trading volumes.

Speculation arose regarding GameStop’s potential involvement with Bitcoin after CEO Ryan Cohen posted a photo on X with Strategy Chairman Michael Saylor over the weekend.

However, CNBC also noted that the retailer might not proceed with these investments, as the company is still evaluating whether this direction aligns with its business strategy.