TechFlow news — On February 14, according to CNBC, three sources familiar with the matter revealed that video game retailer GameStop is considering investing in cryptocurrencies such as bitcoin. The company currently holds $4.6 billion in cash reserves and approved a new investment policy in December 2023, authorizing CEO Ryan Cohen and two independent directors to manage its securities portfolio.
Following the report, GameStop's stock surged as much as 20% in after-hours trading. Notably, Ryan Cohen recently posted a photo on social media platform X showing him alongside Michael Saylor, chairman of MicroStrategy—the largest corporate holder of bitcoin. However, sources indicated that Saylor is not currently involved in GameStop’s discussions regarding cryptocurrency investments.
