GameStop is considering investing in bitcoin and other cryptocurrencies, sources say

Core Viewpoint - GameStop is considering investments in bitcoin and other cryptocurrencies as part of its strategy to explore alternative asset classes, which has led to a significant increase in its stock price [1][2]. Group 1: Investment Considerations - GameStop is in the process of evaluating whether investing in cryptocurrencies aligns with its business model, with no final decision made yet [2]. - The company previously launched crypto wallets in 2022 but discontinued the service in 2023 due to regulatory uncertainties [3]. - Under the leadership of CEO Ryan Cohen, GameStop has focused on cost-cutting and operational efficiency, accumulating a cash reserve of $4.6 billion for potential investments [4]. Group 2: Market Context - Other companies, like MicroStrategy, have successfully integrated bitcoin into their balance sheets, transforming their business models and stock performance [5]. - GameStop's board approved a new investment policy in December 2023, allowing specific members to manage the company's investment portfolio, with strict guidelines for any investments [6].