- GameStop shares surged on Thursday following Bitcoin adoption speculation.
- The gaming company hinted at plans to invest in Bitcoin or alternative crypto.
- GME’s surging prices highlights crypto users’ prevailing sentiment.
Video game retailer GameStop saw its shares rally on Thursday after the company hinted about plans to invest in cryptocurrencies such as Bitcoin. Information about GameStop’s crypto plans boosted the speculation after the gaming company’s CEO, Ryan Cohen, posted a photo of himself with Strategy co-founder Michael Saylor.
While Cohen’s post set off a lot of speculation, new reports say Saylor isn’t actually involved in GameStop’s crypto investment thoughts. The company is still figuring out if they’ll hold Bitcoin or other digital assets.
It is worth mentioning that GameStop grew significantly from 2021 when Cohen took over. He came onboard just before the meme stock craze that launched GameStop shares to crazy highs in early 2021. Then, the crypto market tanked, dragging down the value of many assets.
Related: GameStop Shares Skyrocket Amid Renewed Retail Investor Fervor
However, GameStop’s shares jumped over 6.7% in Thursday’s extended trading and have doubled in value over the past year, highlighting the company’s rebound and the increasing traction in the gaming industry after the crypto market’s recovery from the bear market. From a wider perspective, DappRadar’s data show that Web3 games’ unique active addresses surged 386% between January 2024 and 2025.
It is important to note that GameStop only mulled the idea of creating a crypto investment and has not shown any commitment toward implementing a decision. Even so, recent events show traders and investors are hoping GameStop will actually do it. One observer thinks GameStop might follow MicroStrategy’s lead and use its $4.6 billion in cash and similar holdings to buy Bitcoin.
Related: Crypto Market Fluctuations Tied to GameStop, Strong US Jobs Data
The surge in GameStop’s shares highlights the prevailing sentiment among crypto users, reflecting the positivity associated with Bitcoin. It reflects how ready investors are to respond to bullish signals, especially with the several socioeconomic factors surrounding the crypto market.
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