GameStop Corp. is considering investing in alternative asset classes, including Bitcoin and other cryptocurrencies, CNBC reported on Thursday, citing sources familiar with the matter.
According to the report, the company is still in the process of determining whether this move will fit into its business and may still decide not to go through with the investments. The discussions follow GameStop's CEO Ryan Cohen's recent photo with MicroStrategy CEO Michael Saylor, whose company holds an aggregate of about 478,740 Bitcoin, as of its last Securities and Exchange Commission (SEC) filing. After spending billions of dollars to acquire Bitcoin, the company rebranded itself as "the world's first and largest Bitcoin Treasury Company," and started doing business as Strategy. However, Saylor is not currently involved in GameStop's discussions on crypto investments, according to one of the sources cited in the report.
GameStop previously launched crypto wallets in 2022, but shut down the service in 2023 due to "regulatory uncertainty."
