GameStop is weighing the idea of accepting cryptocurrency for trading card purchases, according to CEO Ryan Cohen.
The company is exploring the broader use of digital assets as part of its shift away from hardware and toward collectibles.
Cohen said the retailer is open to various cryptocurrencies but hasn’t committed to any specific token. He also reiterated that crypto’s value lies in its utility and role as a hedge against inflation, not just as an investment vehicle.
The company’s crypto strategy follows its May acquisition of 4,710 Bitcoin, valued at over $500 million at the time. While some have drawn comparisons to MicroStrategy’s aggressive BTC play, Cohen insisted GameStop’s approach is more conservative and grounded in financial flexibility, backed by a balance sheet exceeding $9 billion in cash and marketable securities.
Though GameStop’s past ventures into crypto—including a short-lived NFT marketplace and a now-defunct wallet—were shelved due to regulatory uncertainty, the firm appears more measured this time. With capital from a recent $450 million funding round, it may further explore digital asset integrations if market and regulatory conditions allow.
Despite the announcements, GME shares barely moved, suggesting investors remain cautious as the company tests new ground in the evolving crypto landscape.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/gamestop-considers-crypto-payments-for-collectibles/