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On Monday, GameStop CEO Ryan Cohen posted a pic with MicroStrategy’s Michael Saylor. Many saw where this was going, and they were right – insiders say GameStop plans to take a page from MicroStrategy’s book and invest in Bitcoin ($BTC). GME shares spiked over 20% on the back of the rumors, hitting $31 before falling to $26. There’s also an amusing correlation with the unofficial $GME token, which recorded a 32% daily increase. pic.twitter.com/wlOwEGli6n — Ryan Cohen (@ryancohen) February 8, 2025 This happened without Cohen himself saying a word. Imagine the giant leap GME stock would make if he does go ahead and buy $BTC. It’s likely the impact of this would extend well beyond GameStop. GameStop to Follow in MicroStrategy’s Footsteps? GameStop has become a symbol of retail investor unity. It’s the antipode of all things Wall Street that showed how small traders can come together to shake the ivory towers to their foundations. The company’s pivot into crypto aligns perfectly with this rebellion. GME fell 15.95% YTD, and Cohen is evidently looking for ways to increase its profitability. Monday’s picture with Michael Saylor suggests he could be hoping to learn from MicroStrategy’s BTC-focused approach. For context, Saylor’s MicroStrategy began investing in $BTC in 2020 and now holds over $46.5B in the asset. MSTR stock price has since surged 2,083%. Could GME experience similar growth if GameStop follows the same approach? Definitely. More than that, it could set a precedent for S&P 500 companies to take crypto seriously. GME is not yet part of the S&P 500, but it fits the criteria (market cap of at least $12.7B) and could soon join the titans. The approach makes even more sense if you consider the repeated recession headwinds of the past years. While the Fed has tried to resist the…

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Filed under: News - @ February 14, 2025 10:24 am