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.
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GameStop has over $8.5 billion in cash reserves and a $10 billion market cap.
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Analysts are questioning the company’s commitment to Bitcoin investments.
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Cohen’s unfollowing of Bitcoin accounts suggests a cooling relationship with the crypto community.
GameStop’s recent actions regarding Bitcoin investments have raised eyebrows, especially with CEO Ryan Cohen unfollowing Bitcoin accounts on social media. What does this mean for the future of cryptocurrency at GameStop?
What is GameStop’s Current Stance on Bitcoin?
GameStop’s current stance on Bitcoin appears uncertain. Despite holding $500 million in Bitcoin, the company has not made any further purchases since May 2025. This pause raises questions about their long-term commitment to cryptocurrency.
How Did GameStop Begin Its Bitcoin Journey?
GameStop’s Bitcoin journey began in March 2025 when the board approved adding Bitcoin as a treasury reserve asset. This decision followed a significant capital raise and was influenced by CEO Ryan Cohen’s engagement with Bitcoin advocates.
JUST IN: Ryan Cohen no longer follows any Bitcoin accounts and GameStop now sits on over $8.5 billion in cash and $500 million in Bitcoin with a market cap of $10 billion.
What the hell is going on over at GameStop? pic.twitter.com/2b6DCZO3FA
— The ₿itcoin Therapist (@TheBTCTherapist) August 7, 2025
Why Has GameStop Halted Bitcoin Purchases?
Since acquiring 4,710 Bitcoin worth approximately $513 million in May, GameStop has not made additional purchases. This stagnation has disappointed many Bitcoin supporters who anticipated a more aggressive accumulation strategy.
Key Takeaways
- GameStop’s Bitcoin holdings are significant, but their purchasing strategy has stalled.
- CEO Ryan Cohen’s social media actions indicate a potential shift away from cryptocurrency.
- Market volatility may be influencing GameStop’s cautious approach to Bitcoin investments.
Conclusion
GameStop’s recent decisions regarding Bitcoin investments reflect a cautious approach amidst significant cash reserves. As the cryptocurrency landscape evolves, the company’s future in this space remains uncertain, prompting analysts to closely monitor their next moves.
