{"id":7357,"date":"2025-08-10T15:39:17","date_gmt":"2025-08-10T15:39:17","guid":{"rendered":"https:\/\/bitunikey.com\/news\/gamestop-ends-btc-buying-spree-cohen-cools-on-bitcoin-crowd\/"},"modified":"2025-08-10T15:39:26","modified_gmt":"2025-08-10T15:39:26","slug":"gamestop-ends-btc-buying-spree-cohen-cools-on-bitcoin-crowd","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/gamestop-ends-btc-buying-spree-cohen-cools-on-bitcoin-crowd\/","title":{"rendered":"GameStop ends BTC buying spree, Cohen cools on Bitcoin crowd"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">GameStop CEO Ryan Cohen has unfollowed all Bitcoin-related accounts on X, raising questions about the company\u2019s commitment to cryptocurrency after accumulating $500 million in Bitcoin.<\/p>\n<p>This social media shift comes as GameStop sits on over $8.5 billion in cash reserves with a $10 billion market cap but has halted Bitcoin (BTC) purchases since May.<\/p>\n<p>\u201cWhat the hell is going on over at GameStop?\u201d posted analyst The Bitcoin Therapist, noting Cohen\u2019s withdrawal from Bitcoin social media engagement following the company\u2019s initial entry into cryptocurrency investments.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: Ryan Cohen no longer follows any Bitcoin accounts and GameStop now sits on over $8.5 billion in cash and $500 million in Bitcoin with a market cap of $10 billion. <\/p>\n<p>What the hell is going on over at GameStop? <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/2b6DCZO3FA\" target=\"_blank\">pic.twitter.com\/2b6DCZO3FA<\/a><\/p>\n<p>\u2014 The \u20bfitcoin Therapist (@TheBTCTherapist) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheBTCTherapist\/status\/1953580245032026518?ref_src=twsrc%5Etfw\" target=\"_blank\">August 7, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<h3 class=\"wp-block-heading\">Bitcoin strategy launched with fanfare in March<\/h3>\n<p>GameStop\u2019s Bitcoin journey began in March 2025 when the board unanimously approved adding Bitcoin as a treasury reserve asset.<\/p>\n<p>The decision followed months of speculation that intensified after Cohen posted a photo with Strategy founder Michael Saylor in February.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"zxx\" dir=\"ltr\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/wlOwEGli6n\" target=\"_blank\">pic.twitter.com\/wlOwEGli6n<\/a><\/p>\n<p>\u2014 Ryan Cohen (@ryancohen) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/ryancohen\/status\/1888098643732811864?ref_src=twsrc%5Etfw\" target=\"_blank\">February 8, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>The company completed a $1.5 billion convertible notes offering in April, featuring 0% interest and maturity in 2030, to fund Bitcoin purchases and general corporate purposes.<\/p>\n<p>On May 28, GameStop acquired 4,710 Bitcoin worth approximately $513 million in its first and only cryptocurrency purchase.<\/p>\n<p>Cohen defended the Bitcoin strategy during a July CNBC <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/video\/2025\/07\/15\/watch-cnbcs-full-interview-with-gamestop-ceo-ryan-cohen.html\" target=\"_blank\">interview<\/a>, calling BTC a \u201chedge against inflation and global money printing.\u201d<\/p>\n<p>The CEO also contrasted Bitcoin\u2019s advantages over gold, citing portability, instant global transferability, blockchain verification, and secure digital storage.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h3 class=\"wp-block-heading\">Accumulation strategy stalls after initial purchase<\/h3>\n<p>GameStop hasn\u2019t bought any more Bitcoin since the May acquisition. Bitcoin supporters who anticipated aggressive accumulation similar to Strategy\u2019s have been disappointed.<\/p>\n<p>The company raised substantial capital for cryptocurrency investments but has left most of the funds unused.<\/p>\n<p>Cohen\u2019s August decision to unfollow Bitcoin accounts on X suggests a cooling relationship with the cryptocurrency community.<\/p>\n<p>The lack of follow-up purchases raises questions about GameStop\u2019s long-term Bitcoin commitment. To maintain flexibility, the company set no maximum purchase limits and reserved the right to sell any Bitcoin it acquired.<\/p>\n<p>Bitcoin\u2019s price volatility may have influenced this cautious approach.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GameStop CEO Ryan Cohen has unfollowed all Bitcoin-related accounts on X, raising questions about the company\u2019s commitment to cryptocurrency after accumulating $500 million in Bitcoin. This social media shift comes&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=7357"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7357\/revisions"}],"predecessor-version":[{"id":7358,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7357\/revisions\/7358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1211"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=7357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=7357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=7357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}