CEO of GameStop Ryan Cohen says the company is shifting its strategic focus away from Bitcoin to concentrate on a “transformational deal” in the consumer/retail sector. According to interviews in late January and early February 2026, Cohen considers this opportunity “much more attractive than Bitcoin.”
The plan revolves around using approximately $9 billion in cash to acquire a publicly traded consumer business, thereby reshaping GameStop into a $100 billion conglomerate with ambitions similar to Berkshire Hathaway. Although specific targets have not been disclosed, Cohen emphasized that this is a “very significant” opportunity, focusing on undervalued companies with room to improve operational efficiency.
The strategy has received support from Michael Burry, who has taken a long position in GameStop. Meanwhile, GameStop has transferred all 4,710 BTC to Coinbase Prime, sparking speculation about a potential sale. Cohen has not confirmed any Bitcoin liquidation but stated that current capital priorities are focused on the large-scale consumer deal.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin ETFs Roar Back as Balchunas Revives Gold Debate on Wall St
U.S. spot Bitcoin ETFs added fresh capital on March 23, reversing earlier weakness and restoring momentum across the category. The rebound followed several weeks of withdrawals in 2026, and it narrowed the funds’ year-to-date deficit. Bloomberg ETF analyst Eric Balchunas linked the trend to
CryptoBreaking34m ago
Price predictions 3/25: BTC, ETH, BNB, XRP, SOL, DOGE, HYPE, ADA, BCH, LINK
Bitcoin (BTC) continues to face significant resistance at the $72,000 level, but the bulls have kept up the pressure. Trader Daan Crypto Trades said in a post on X that BTC will have to cross and stay above the $72,000 resistance area to “test the $80Ks again.”
Markets tend to hate uncertainty, but
Cointelegraph1h ago
CoinShares Files for Bitcoin Volatility ETF Suite, Targeting BTC Price Swings
In brief
CoinShares filed a post-effective amendment to register three ETFs tracking the CME CF Bitcoin Volatility Index.
The funds—a base, leveraged, and inverse variant—could begin trading in early June if the SEC raises no objections.
Management fees were not listed, signaling the
Decrypt1h ago
