GameStop Considers $5 Billion Bitcoin Conversion Proposal
- GameStop received a proposal from Strive Asset Management to convert $5 billion in cash reserves into Bitcoin.
- The proposal was acknowledged by GameStop’s CEO Ryan Cohen on social media.
- Strive, co-founded by Vivek Ramaswamy, argues Bitcoin is superior to cash due to inflation concerns.
- The firm suggests reducing GameStop’s retail footprint and focusing on e-commerce and AI services.
- Bitcoin is currently trading below $89,000, down from over $109,000 in January.
GameStop has not publicly commented on the proposal from Strive Asset Management to convert its cash reserves into Bitcoin. The suggestion includes reducing physical store locations and enhancing digital sales strategies.
Source (2.6)https://decrypt.co/307775/gamestop-ceo-responds-to-proposal-to-convert-5-billion-cash-to-bitcoin?rand=52368
