GameStop ends BTC buying spree, CEO Cohen cools on Bitcoin
Gamely CEO Ryan Cohen has unsubscribed by Bitcoin on X, raising questions about the company’s commitment to cryptocurrency after accumulating $ 500 million in Bitcoin.
This change in social media occurs while GameStop is on more than $ 8.5 billion in cash reserves with a market capitalization of $ 10 billion, but arrested Bitcoin (BTC) Purchases since May.
“What’s going on in Gamesop?” Analyst published the Bitcoin therapist, noting Cohen’s withdrawal from Bitcoin’s social media engagement after the company’s initial entry into cryptocurrency investments.
Bitcoin strategy launched with fanfare in March
Gamescoin’s Bitcoin trip started in March 2025 when the board of directors unanimously approved the addition of Bitcoin as a Treasury reserve asset.
The decision followed months of speculation that intensified after Cohen published a photo with the founder of the strategy Michael Saylor in February.
The company completed a convertible ticket offer of $ 1.5 billion in April, with 0% interest and maturity in 2030, to finance Bitcoin purchases and the general objectives of the company.
On May 28, GameStop acquired 4,710 Bitcoin worth around $ 513 million during its first and the only purchase of cryptocurrency.
Cohen defended the Bitcoin strategy during a July CNBC interviewCall BTC a “coverage against inflation and global monetary printing”.
The CEO has also contrasted the advantages of Bitcoin compared to gold, citing portability, instantaneous global transferability, blockchain check and secure digital storage.
Stands of accumulation strategy after initial purchase
GameStop has not bought Bitcoin since the acquisition of May. Bitcoin supporters who anticipate an aggressive accumulation similar to the strategies have been disappointed.
The company has raised substantial capital for cryptocurrency investments but left most of the unused funds.
Cohen’s August decision to unsubscribe Bitcoin accounts on X suggests a cooling relationship with the cryptocurrency community.
The absence of follow -up purchases raises questions on long -term commitment to GameStop Bitcoin. To maintain flexibility, the company has set no maximum purchase limit and reserved the right to sell any bitcoin it has acquired.
Bitcoin price volatility may have influenced this prudent approach.
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