“GameStop Stock Rises 10% After CEO Meets Strategy Executive Chair

TLDR

• GameStop’s stock increased by 10% after CEO Ryan Cohen posted a photo with Michael Saylor, the executive chair of Strategy (formerly MicroStrategy), sparking speculation about potential Bitcoin investments
• GameStop’s board approved a new investment policy in December 2023, giving Cohen authority to manage the investment portfolio
• Strategy (formerly MicroStrategy) is currently executing a $42 billion Bitcoin purchasing plan and holds approximately 470,000 BTC
• GameStop previously ventured into digital assets with crypto wallets for NFTs but shut down the initiative in 2023 citing regulatory concerns
• The stock movement represents GameStop’s largest daily percentage gain since December 11, 2024

GameStop’s stock price increased by 10% on Monday, February 10, 2025, following a social media post by CEO Ryan Cohen. The post featured a photo of Cohen with Michael Saylor, the executive chair of Strategy, formerly known as MicroStrategy.

The stock movement marked GameStop’s largest daily percentage increase since December 11, 2024, when it rose by 7.6%. The company’s shares have now grown by 79.2% over the past twelve months, compared to the S&P 500’s growth of 20.6% during the same period.

Ryan Cohen, who founded online pet-supplies retailer Chewy Inc., took on the role of GameStop’s CEO in September 2023. The meeting with Saylor has sparked discussions about potential cryptocurrency strategies for the video game retailer.

This following Cohen’s recent transfer of $GME shares from his LLC to his personal name on January 27

Hinting at a possible bitcoin strategy?

Hinting at another share offering?

Wasn’t expecting this duo on my 2025 bingo card #GameStop

— Wolf of My Street🏡 (@Ryan__Rigg) February 8, 2025

Strategy, under Saylor’s leadership, has become the largest corporate holder of Bitcoin, with holdings of approximately 470,000 BTC, valued at around $50 billion. The company recently announced it’s nearly halfway through its plan to purchase $42 billion worth of Bitcoin.

In December 2023, GameStop’s board of directors implemented a new investment policy. This policy gives Cohen the authority to manage the company’s investment portfolio and permits investments in equity securities, among other assets.

This isn’t GameStop’s first venture into digital assets. The company previously launched cryptocurrency wallets for non-fungible tokens (NFTs). However, this initiative was discontinued in 2023, with the company citing regulatory uncertainty as the primary reason.

The photograph posted by Cohen did not include any context about the nature or purpose of the meeting with Saylor. Neither GameStop nor Strategy has made official statements about any potential collaboration or Bitcoin-related plans.

Strategy, which recently changed its name from MicroStrategy, began its Bitcoin investment journey in 2020. The company has transformed from its original focus as a business software provider to become primarily known for its Bitcoin holdings.

Monday’s market response showed the continuing influence of social media on GameStop’s stock price. The company’s market value increased by more than a billion dollars following the posted photograph.

GameStop’s stock movement follows a pattern of sensitivity to social media activity, particularly posts from key figures associated with the company. This includes previous market reactions to posts from Keith Gill, known online as Roaring Kitty.

Strategy’s shares also saw movement on Monday, with a 2% increase. The company’s stock has risen by 365.8% over the past twelve months, outperforming both GameStop and the broader market.

The video game retailer has not responded to requests for comment about the meeting or any potential cryptocurrency plans. The lack of official communication leaves the purpose of the meeting open to speculation.

GameStop’s position as one of the original meme stocks continues to influence its market behavior. The company gained widespread attention in 2021 during the meme-stock trading phenomenon, along with AMC Entertainment Holdings Inc.

Trading volume for GameStop stock increased during Monday’s session, indicating heightened investor interest following the social media post. The movement demonstrates the ongoing market attention to potential cryptocurrency-related developments.

The timing of the meeting comes as Bitcoin and other cryptocurrencies have seen increased mainstream adoption and institutional interest. However, the regulatory landscape for cryptocurrencies and digital assets continues to evolve.