GameStop’s CEO Dances Around Crypto Payments, Hedges Against Inflation with Bitcoin 🕺💰

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Oh, what a tangled web we weave when first we practice to deceive! GameStop CEO Ryan Cohen has ever so coyly hinted that the video game emporium might just start accepting crypto for trading card purchases. And, oh, the company’s Bitcoin buys? Not a mere copycat of MicroStrategy, no siree! 🙄

Cohen, in his most charmingly evasive manner, told CNBC’s Squawk Box on Tuesday that GameStop is shifting gears to reduce its reliance on hardware, a move spurred by the ever-rising costs. The focus, it seems, is now on trading cards and collectibles, which, one day, might be purchased using the ever-so-trendy cryptocurrency. 🎴💰

“There’s an opportunity to buy trading cards and to do so using cryptocurrency. So, we’ll see how much there is on the actual demand side for that kind of product,” he said, with a wink and a nod.

“The utility of crypto beyond investing is a hedge against inflation. I think so far that’s been the biggest demand for crypto, and so, the ability to actually use crypto within transactions is something that is an opportunity and it’s something that we’re looking at.”

GameStop Looking at All Cryptocurrencies, Naturally

Cohen, ever the cautious optimist, noted that while there’s “definitely an opportunity” to use crypto in the space, GameStop hasn’t yet decided which token will be the lucky one. “We’re going to look at all cryptocurrencies,” he added, as if to say, “Why not? It’s a party, and everyone’s invited!” 🎉

GameStop has, of course, dabbled in the crypto space before, launching a nonfungible token marketplace and a crypto wallet. Alas, both ventures were shuttered due to the ever-present specter of regulatory uncertainty. 🚫🚫🚫

Bitcoin: The Ultimate Hedge Against Inflation

GameStop joined the crypto bandwagon with a rather substantial purchase of 4,710 BTC on May 28, a move that cost the company over $500 million at the time. Cohen, ever the savvy businessman, insisted that GameStop’s investment in Bitcoin is a “hedge against inflation and global money printing.”

“We have our own unique strategy, and we have a very strong balance sheet of over $9 billion in cash and marketable securities, and we will deploy that capital responsibly as I would my own capital,” he said, with the air of a man who knows the value of a well-placed hedge. 🕵️‍♂️💰

The company plans to “look for opportunities where the downside is limited and there’s a lot of upside,” Cohen added, as if to say, “We’re not just throwing darts at a board, you know.” 🎯

On June 23, GameStop disclosed it had raised another $450 million as part of its planned $2.25 billion private convertible note offering, which could, of course, include more Bitcoin. 🚀

Stock Market: A Mixed Bag of Tricks

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GameStop shares have been a mixed bag in 2025, having climbed 30% in the 30 days before the company’s May 28 Bitcoin purchase but then tanking 22% in June after the company announced an increase in its planned private convertible note offering. 🎢

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2025-07-16 08:51