GameStop is actively considering investing in Bitcoin and other cryptocurrencies. This move could refresh the notorious success story in the cryptocurrency world.
The Impact of 2021 on GameStop and Cryptocurrencies
Cryptocurrency markets were significantly impacted by the GameStop frenzy in 2021. Driven by Elon Musk's support, individual investors triumphed over short-sellers, creating an almost legendary narrative. However, the speculative surge abruptly ended with the removal of the buy button, leading to a swift sell-off and the end of excitement.
GameStop's Considered Steps
Currently, GameStop is considering making investments in Bitcoin and other cryptocurrencies. According to a CNBC report, the company is seriously contemplating this move. Should they proceed in this direction, it could not only boost their stock but also attract a wave of individual investors reminiscent of the 2021 story.
Plans and Future Prospects
CEO Ryan Cohen recently shared a photo with Michael Saylor, co-founder and chairman of MicroStrategy, the largest institutional holder of Bitcoin. However, it is noted that Saylor is currently not involved in discussions regarding GameStop's cryptocurrency investments.
GameStop's decision could have a significant impact on their business and attract attention to the cryptocurrency market. Significant changes may be on the horizon.
