GameStop, known for its foray into cryptocurrency, has halted its Bitcoin purchases since April 2025. This news has drawn attention to both the company and its founder Ryan Cohen, who has also altered his subscriptions on social media.
Reasons for Halting Bitcoin Purchases
Users have noticed that GameStop is no longer buying Bitcoin, leading to speculations about potential changes in the company’s strategy. Recently, GameStop acquired 4,710 BTC in May 2025 but has not announced any new purchases since then. Many are questioning whether this is because the company has decided to temporarily pause its cryptocurrency investments.
User Reactions on Twitter
Changes in Ryan Cohen's subscriptions have also sparked discussions. He unfollowed accounts related to Bitcoin, including Bitcoin Magazine and The Bitcoin Conference account. Users on Twitter expressed dissatisfaction with his actions, arguing that he is 'all talk and no action.' One user noted: 'The last time he unfollowed Bitcoin was when they made the purchase? What is up with the unfollows?'
GameStop's Financial State and Potential Plans
Currently, GameStop has approximately $6.38 billion in cash and short-term investments. Despite having the funds, the company has not fulfilled its promises regarding increasing its Bitcoin holdings. The market reacted to this with a decline in stock, with a current price of $22.27 and a market cap of around $10 billion.
Thus, GameStop's suspension of Bitcoin purchases and Ryan Cohen's behavioral changes raise many questions among investors. The company's future steps are expected to be closely monitored to understand its further intentions in the cryptocurrency space.
