Gamestop is Taking a Cautious, Independent Approach to Bitcoin (BTC) and does not do not do not intend to emulate the aggressive strategies of other crypto-heavy treasury firms like strategy, According to Ceo Ranyan, who Said Saidy’s Competition
In an appearance on CNBCs Squawk -Doos On July 15, Cohen explained that Gamestop’s Bitcoin -purchase of $ 512 million in May was designed as a hedge against inflation and monetary debasia.
He explained that the Bitcoin purchase was not a signal of long-term accumulation or a pivot point to become a Bitcoin-Native company.
Cohen further clarified that Gamestop would not follow the model of companies such as Strategy, that one of the largest Bitcoin treasure boxes in the world would have built.
Cohen emphasized that Gamestop maintains a strong balance, with more than $ 9 billion in cash and tradable effects, and will remain disciplined in how the capital uses.
He characterized the Bitcoin position of the company as an opportunistic, and added that future investment decisions will focus on protecting the downward risk, while looking up meaningfully.
The company recently collected $ 2.7 billion via a supply offer, so that speculation about whether it could expand its Bitcoin holdings. While Cohen recognized the capital increase, he did not give a specific indication that the company would allocate more to crypto.
Under Leadership Van Cohen, Gamestop has again focused on collective objects and trade cards, reducing physical activities while profitability is improved. As part of this strategic shift, the company evaluates the possibility of accepting crypto as a form of payment for purchasing a trade card.
Cohen stated that the company actively assesses the market demand for such a payment option and is open to a wide range of digital assets instead of limiting itself to a single token.
Gamestop had previously operated an NFT marketplace and developed a crypto wallet, although both were closed between the end of 2023 and early 2024 due to regulatory uncertainty in the US
Although the current crypto involvement of Gamestop is concentrating on his bitcoin holdings, the exploration of digital payments from the company that can continue to integrate the blockchain into its broader retail and investment strategy, albeit at its own pace.
