GameStop( GameStop) considering investing in Bitcoin and other Crypto Assets, could it become the next MicroStrategy?

The well-known American game retailer GameStop is evaluating whether to invest in BTC and other cryptocurrencies as part of its asset allocation. There are speculations that GameStop may follow in the footsteps of Strategy and become the next enterprise-level BTC Whale holder. According to CNBC, GameStop, a US electronic game retailer, is evaluating whether to invest in BTC and other cryptocurrencies as part of its asset allocation. GameStop has become a hot topic among investors in recent years as a 'meme stock,' attracting a large number of loyal retail investors, especially from the younger generation and traditional 'otaku' community in the US. This move by GameStop into the cryptocurrency market may further strengthen its brand image and attract more new generation investors. The meeting between CEO Ryan Cohen and BTC Large Investors has sparked speculation about whether GameStop will indeed invest in BTC, but last weekend, GameStop CEO Ryan Cohen posted a photo with Michael Saylor, founder of MicroStrategy, on the social platform X, immediately causing a market buzz. MicroStrategy is known to be one of the listed companies with the largest BTC holdings globally, and Saylor is also one of the most well-known BTC advocates in the corporate world. However, according to sources, Saylor did not participate in GameStop's internal discussions on cryptocurrency investments. GameStop previously ventured into Web3 and closed encryption wallets in 2023. In fact, this is not GameStop's first foray into the cryptocurrency market. In 2022, the company launched non-fungible tokens and cryptocurrency wallets, allowing players to manage their encryption assets. However, this service was closed in 2023 due to 'regulatory uncertainty.' GameStop's reconsideration of investing in BTC this time may indicate a shift in its attitude towards cryptocurrencies and view them as potential long-term asset allocation options. With $46 billion in cash, how will GameStop utilize its funds? Under Ryan Cohen's leadership, GameStop has been actively reducing costs and streamlining its business in recent years to ensure the company remains profitable even as growth slows down. According to the financial report in December 2023, as of November 2, 2023, GameStop has approximately $46 billion in cash reserves and plans to invest this fund. In December last year, GameStop's board approved a new 'investment policy,' authorizing Cohen and two independent directors to manage the company's investment portfolio. According to this policy, all investments must comply with the guiding principles or be approved by a majority vote of the board. If GameStop ultimately decides to allocate some funds to BTC, it may become another major publicly traded company to invest significantly in BTC after MicroStrategy, further driving the trend of enterprise-level BTC adoption. Let's continue to follow this development.