Bitcoin News Today: GameStop CEO Hints at Cryptocurrency Acceptance for Trading Card Purchases

15 hours ago 3

Coin WorldWednesday, Jul 16, 2025 1:49 am ET

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GameStop CEO Ryan Cohen has hinted at the possibility of the video game retailer accepting cryptocurrency for trading card purchases. During an interview on CNBC’s Squawk Box, Cohen discussed the company's shift in strategy to reduce reliance on hardware due to rising costs, focusing more on trading cards and collectibles. He mentioned that there is potential for customers to use cryptocurrency for these purchases, although the demand for such a service remains to be seen.

Cohen emphasized that the utility of cryptocurrency extends beyond investment, serving as a hedge against inflation. He noted that the ability to use crypto in transactions presents an opportunity that GameStop is exploring. When asked about which cryptocurrencies the company might accept, Cohen stated that GameStop is considering all options, indicating a broad approach to potential crypto integrations.

GameStop's interest in cryptocurrency is not new. The company previously launched a nonfungible token (NFT) marketplace and a crypto wallet, both of which were shut down due to regulatory concerns. Despite these challenges, Cohen's recent comments suggest that GameStop is still open to further exploring the cryptocurrency space, potentially integrating crypto payments into its business model.

In May, GameStop made a significant investment in Bitcoin, purchasing 4,710 BTC worth over $500 million at the time. Cohen clarified that this investment is part of a unique strategy to hedge against inflation and global money printing, rather than simply following the lead of other major Bitcoin holders like Strategy. He emphasized that GameStop has a strong balance sheet with over $9 billion in cash and marketable securities, allowing the company to deploy capital responsibly in search of opportunities with limited downside and significant upside.

GameStop has recently raised $450 million as part of its planned $2.25 billion private convertible note offering, which could potentially be used for further Bitcoin investments. Cohen did not provide specific details about future Bitcoin plans but reiterated the company's commitment to responsible capital deployment. This strategic approach to cryptocurrency investments and potential future integrations positions GameStop as a forward-thinking player in the evolving landscape of digital assets.

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