TLDR
- CEO Ryan Cohen's snapshot with Michael Saylor of Strategy ignited Bitcoin talk as GameStop saw a 10% stock lift.
- In late 2023, GameStop's board approved a new policy that empowers Cohen with investment decision-making.
- Strategy, formerly MicroStrategy, is on a mission to buy $42 billion worth of Bitcoin, already holding nearly 470,000 coins.
- GameStop dipped its toes into NFTs with crypto wallets before stepping back in 2023 due to regulatory issues.
- This jump in share value marks GameStop's most significant daily rise since December 2024.
GameStop's valuation climbed 10% on Monday, February 10, 2025. This hike in stock came after CEO Ryan Cohen shared a picture with Michael Saylor of Strategy, previously known as MicroStrategy.
The 10% rise in GameStop shares marked their biggest daily uptick since December 2024, outdoing the previous peak of 7.6%. Over the past year, GameStop's stock has made a dramatic climb of 79.2%, overshadowing the S&P 500's 20.6% gain.
Ryan Cohen took the helm at GameStop in September 2023 after founding Chewy Inc. His meeting with Saylor has stirred conversations about crypto strategies for GameStop.
This follows Cohen's recent allocation adjustment, transferring shares to his personal account in late January. $GME Is a Bitcoin play in the works?
This pairing was a surprise for anyone keeping tabs on 2025's market moves.
Hinting at another share offering?
Strategy's pivot under Saylor has made it the top corporate Bitcoin holder, with a stash now approximating $50 billion and plans to keep buying up to $42 billion more. #GameStop
— Wolf of My Street🏡 (@Ryan__Rigg) February 8, 2025
In a strategic shift, GameStop's board bestowed Cohen with broad investment powers in December 2023, enabling purchases across asset classes.
GameStop isn't new to digital currencies. Their NFT wallet project, once promising, was folded due to unclear regulations.
Cohen's photo featured no explanation of the purpose or focus of his meeting with Saylor. Both companies stayed mum on any collaborations or Bitcoin plans.
Since its rebranding from MicroStrategy, Strategy has channeled its energies from software to substantial Bitcoin accumulation.
Monday’s stock action spotlighted how social media continues to sway GameStop’s market cap, adding over a billion dollars in value.
GameStop's trading activity mirrors a pattern where social media influences drive share price, recalling previous reactions to posts from figures like Roaring Kitty.
Shares of Strategy rose by 2% on Monday, with its past year showing a dramatic 365.8% growth, outpacing GameStop and the broader market alike.
The video game giant hasn’t commented on the implications of the meeting or potential cryptocurrency ambitions, keeping the public wondering.
GameStop remains a cornerstone of the meme-stock saga, alongside AMC, captivating investors since 2021's trading frenzy.
Increased trading of GameStop shares on Monday reflects heightened interest spurred by a recent social media revelation.
This meeting's timing aligns with a broader adoption of digital currencies like Bitcoin, though the regulatory environment keeps shifting.
Maisie boasts deep expertise in crypto and financial reporting, contributing to notable sites, including helming editorial at Blockfresh.
