GameStop’s Bitcoin Commitment Questioned as CEO Ryan Cohen Unfollows Crypto Accounts Amid $500 Million Holdings
Main Idea
GameStop's CEO Ryan Cohen has unfollowed cryptocurrency accounts, raising questions about the company's commitment to Bitcoin despite holding $500 million in Bitcoin and having significant cash reserves.
Key Points
1. GameStop holds $500 million in Bitcoin and has over $8.5 billion in cash reserves with a $10 billion market cap.
2. CEO Ryan Cohen's decision to unfollow crypto accounts has led to speculation about the company's long-term Bitcoin strategy.
3. GameStop began its Bitcoin journey in March 2025 when the board approved adding Bitcoin as an asset, influenced by Cohen's engagement with Bitcoin.
4. The company has paused Bitcoin purchases after acquiring 4,710 Bitcoin worth approximately $513 million in May 2025, disappointing some Bitcoin supporters.
Description
GameStop CEO Ryan Cohen’s decision to unfollow all Bitcoin accounts raises concerns about the company’s future in cryptocurrency, despite holding $500 million in Bitcoin. GameStop has over $8.5 billion in
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