GameStop Stock Soars on Bitcoin Investment Rumors
Web3
February 14, 2025 9:35 AM
In Brief:
GameStop's stock surged nearly 20% after reports of potential Bitcoin investment.
The move follows MicroStrategy’s Bitcoin strategy and a pro-crypto shift under Trump.
GameStop’s stock price jumped from $26 to nearly $31 in after-hours trading following a CNBC report suggesting the company is considering Bitcoin and crypto investments. This comes after CEO Ryan Cohen met with MicroStrategy’s Michael Saylor, fueling speculation about a Bitcoin treasury strategy similar to Strategy’s (formerly MicroStrategy).
The retailer previously explored Web3 with an NFT marketplace and crypto wallet, but shut them down in 2024 due to regulatory concerns. However, with Trump’s pro-crypto stance, GameStop may be reevaluating its blockchain ambitions.
The meme stock giant has a history of viral market moves, and if these Bitcoin rumors prove true, it could further fuel investor excitement.
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