GameStop CEO’s Actions Spark Bitcoin Speculation
- GameStop CEO Ryan Cohen followed Bitcoin Magazine on X, marking his first new follow in nearly four years.
- A recent photo showed Cohen with Michael Saylor, known for advocating corporate Bitcoin strategies.
- GameStop reported $4.616 billion in cash and securities as of October 31, 2024.
- Cohen has authority to invest in cryptocurrencies without shareholder or board approval.
- If GameStop invested its reserves into Bitcoin, it could acquire approximately 48,000 BTC.
Ryan Cohen’s recent follow of Bitcoin Magazine and his meeting with Michael Saylor have fueled speculation about GameStop potentially adopting a corporate Bitcoin strategy. However, no official plans have been confirmed by the company. At the time of reporting, Bitcoin was trading at $97,708.
Source (2.6)https://www.newsbtc.com/news/bitcoin/gamestop-ceo-fuels-bitcoin-speculation/?rand=52377
