Amidst the bustling world of retail, where the clatter of video games and the hush of trading cards meet, there stands a giant, GameStop, the American video game retailer, contemplating a leap into the cryptic realm of cryptocurrencies. According to the company’s CEO, Ryan Cohen, the future may see trading cards exchanged not for paper money, but for digital tokens, a move that could redefine the very essence of collectibles.
In a recent appearance on CNBC’s Squawk Box, Cohen, with a twinkle in his eye, revealed that the company is exploring the use of crypto for payments in its collectibles segment, particularly for trading cards. “There’s an opportunity to buy trading cards and to do so using cryptocurrency,” he mused, adding, “We’ll see how much there is on the actual demand side for that kind of product.”
While the company has not yet chosen a specific cryptocurrency, Cohen assured that all options are on the table. “We are open to evaluating all available options,” he declared, as if presenting a grand buffet of digital currencies to a room of eager investors.
Cohen framed this move as part of a strategic push to diversify the company’s portfolio, reducing its reliance on gaming hardware and expanding into higher-margin segments like collectibles. “Cryptocurrencies could enhance customer experience by providing a new method of transaction aligned with emerging trends in consumer finance,” he explained, with the air of a man who sees the future and is not afraid to embrace it.
“The utility of crypto beyond investing is a hedge against inflation,” Cohen noted, but with a sly smile, he added, “The ability to use crypto within transactions is something that is an opportunity.”
Cohen’s remarks came as GameStop has emerged as one of the latest publicly traded companies to adopt Bitcoin as a treasury asset. The video game retailer made its first purchase of 4,710 BTC in May, a stash worth over $500 million at the time, following a series of board-approved policy changes to allow investment in digital assets like Bitcoin and stablecoins.
In most cases, traditional companies that have added Bitcoin to their balance sheets have seen shareholders respond positively, often driving up stock valuations. But for GameStop, the move has been a rollercoaster of emotions. Initially, GameStop shares rallied over 30% in the month leading up to the Bitcoin purchase, but later fell 22% in June after the company increased the size of its convertible note offering to $2.25 billion.
The added capital, which now totals $2.7 billion after exercising additional options, is expected to support further investments, including potential Bitcoin buys. When asked whether GameStop was copying Michael Saylor-led Strategy’s Bitcoin playbook, Cohen argued his company is taking a different approach. Strategy, formerly known as MicroStrategy, is widely regarded as the pioneer of the corporate Bitcoin treasury model.
“We have our own unique strategy,” Cohen said, emphasizing that GameStop makes investment decisions “responsibly” and is backed by a robust balance sheet holding over $9 billion in cash and marketable securities. “We will deploy that capital responsibly as I would my own capital,” he continued, and said that GameStop will focus on opportunities “where the downside is limited and there’s a lot of upside.”
Read More
- ETH PREDICTION. ETH cryptocurrency
- Silver Rate Forecast
- USD IDR PREDICTION
- USDE PREDICTION. USDE cryptocurrency
- DOGE PREDICTION. DOGE cryptocurrency
- USD BRL PREDICTION
- USD MYR PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- EUR HUF PREDICTION
- USD ARS PREDICTION
2025-07-16 10:22