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- GameStop is considering Bitcoin investment with $4.5 billion in cash after meeting with Michael Saylor.
- The company closed stores and reintroduced a “Buy 2 Get 1 Free” promo to adapt and attract customers.
GameStop, the game store that was once a stock market sensation, has returned to prominence. Having struggled in the physical retail space for years, they are allegedly exploring Bitcoin investments today. Not least, the company boasts cash reserves of more than $4.5 billion, which may be new weapons in this great scheme.
This action drew notice as GameStop CEO Ryan Cohen was seen on video chatting amiably with Strategy founder Michael Saylor, the “number one supporter of Bitcoin.”
The event instantly spurred rumors that GameStop would operate in line with the business, which has lately purchased hundreds of thousands of Bitcoin. If such is the case, this could be a major step from the traditional business space.
NEW: @GAMESTOP HAS OVER $4.5 BILLION IN CASH AND ARE CONSIDERING INVESTING IN BITCOIN. pic.twitter.com/mUt6ootmAd
— Mario Nawfal’s Roundtable (@RoundtableSpace) February 18, 2025
Changing Direction Amid the Digital Storm
But first, let’s look at how the company withstood the digitization storm before we discuss Bitcoin. GameStop shuttered five stores in Connecticut, including in Naugatuck and Danbury, in January 2025. Furthermore, not exempted from shutting were Michigan stores such as Midland Mall and Bay City Mall.
The action is supposed to be part of the company’s attempts to fit changing customer behavior, which today chooses to purchase games digitally instead of going to a physical store.
Game stores used to be part of the fun. You’d walk in, spot a new release on the shelf, maybe joke around with the staff. Now? Just tap, download, and play. Closing stores might feel like the end of an era, but it’s just how things are changing.
GameStop’s Ongoing Curiosity for Digital Assets
GameStop’s been messing around with crypto for a while. In 2022, CNF reported they teamed up with Immutable X to try out an NFT marketplace. If certain goals were hit, they’d get up to $150 million in IMX tokens. At the time, GameStop was optimistic about using blockchain technology to expand its business.
Unfortunately, the NFT market experienced a drastic decline, forcing the company to close its crypto wallet in 2023.
Still, the need to discover the world of digital assets seems to have not subsided. This action seems like the next chapter in GameStop’s digital journey as Bitcoin is now more and more approved as an institutional asset.
Bringing Back the Thrill of Game Hunting
GameStop is also seeking to revive their devoted consumers with a vintage “Buy 2 Get 1 Free” offer just for used PlayStation games within the Bitcoin controversy. The agreement includes more than 1,600 game titles, a return to the times when gamers would thrill from searching for old games.
Imagine coming into a store and discovering a classic book on a great deal. Though more consumers are now depending on digital products, this sale is intended to bring back those good memories.
The main question is: May buying Bitcoin represent GameStop’s turning point? Should the purchase go through, the business would draw crypto investors eager about Bitcoin’s possible broad adoption.
Conversely, the crypto market itself is infamous for its great volatility. The rise and fall of Bitcoin’s price has caused significant changes in valuation even for firms the size of Strategy.
