$BTC
GameStop Explores Crypto Payments for Trading Card Sales
GameStop CEO Ryan Cohen has revealed that the company is considering accepting cryptocurrency as a payment option for trading cards and collectibles, according to Cointelegraph. Speaking with CNBC’s Squawk Box, Cohen explained that GameStop is shifting its focus from hardware to high-demand products like trading cards, and digital currencies may soon be part of the purchasing experience.
He noted that cryptocurrencies have practical use beyond investment, serving as a hedge against inflation, and confirmed that the company is looking into multiple crypto options, though no specific coin has been selected yet.
Continued Interest in Crypto
While GameStop previously launched a crypto wallet and NFT marketplace, both were later shut down due to regulatory challenges. Despite those closures, Cohen says the company remains interested in crypto’s long-term potential.
Major Bitcoin Acquisition
As part of its broader financial strategy, GameStop bought 4,710 Bitcoin (BTC) on May 28, valued at over $500 million at the time. Cohen emphasized this was a move to hedge against inflation and wasn’t an attempt to mirror MicroStrategy’s approach. He pointed to GameStop’s $9 billion in cash and marketable securities as the foundation for making bold, independent moves.
Stock Market Performance
GameStop’s stock has been volatile in 2025:
February: Shares jumped 18% amid crypto-related speculation.
June: Stock dropped 22% following news of a larger private convertible note offering.
Latest: Despite renewed crypto buzz, shares closed down 2%, ending at $23.22, with a slight after-hours rise to $23.29.
Overall, while past efforts faced setbacks, GameStop appears to be doubling down on its crypto ambitions as part of its evolving business model.