GameStop CEO teases crypto payments, says Bitcoin buys are inflation hedge

Key Points

1. GameStop CEO Ryan Cohen stated the company's $500 million Bitcoin investment was intended as a 'hedge against inflation and global money printing.'

2. Cohen hinted at the possibility of GameStop introducing cryptocurrency payments, mentioning they are 'looking at all cryptocurrencies.'

3. GameStop previously ventured into the crypto space with an NFT marketplace and a crypto wallet, both of which were shut down due to regulatory concerns.

4. GameStop's stock did not show a significant reaction to the crypto payment tease, with shares remaining relatively stable after the announcement.

5. The company raised $450 million as part of a planned $2.25 billion private convertible note offering for investments.