Ryan Cohen recently posted an untitled photo of himself standing next to Bitcoin enthusiast Michael Saylor, CEO of the company previously known as MicroStrategy. Currently, CNBC reports that GameStop CEO may use some of his cash in his war chest to buy BTC coins, which have recently risen in value.
Can video game retailer GameStop Morph morph into Bitcoin play like MicroStrategy?
An untitled February 8 post by CEO Ryan Cohen simply portrays him standing next to Michael Sayler, who turned the software company into Levaredo Play at the price of a BTC token, and GameStop cashed in digital currency It caused the possibility of diversifying the pile.
On Thursday, CNBC reported three sources, saying the company is interested in investing in alternative asset classes.
These include Crypto and BTC in particular, and have risen over the past six months.
The benefits were saved by the election of crypto enthusiast Donald Trump for the presidency.
GameStop shares have increased by 5% in transactions at the time of issuance.
18 months after Cohen’s investment company first blows up the original management team for lacking future strategies and seizes control, the crunchy founder should present clear plans to the company. Failed to do so.
So far, Cohen has reduced GameStop’s unprofitable brick and Mortal footprint, recently cutting Italian stores, and shutting down German operations completely in the fourth quarter.
Revenue for the first nine months fell 27% to just $2.54 billion.
GameStop even broke even over the period thanks to the $109 million it acquired in its short-term securities and T-Bill portfolio.
There was cash to fund the change plan, raising net revenue of $3.45 billion through three separate inventory issues.
But there is no plan. It didn’t help that GameStop didn’t hold fiscal year outlook or investor calls in its financial applications.
The strategy at this point is summarised to achieving profitability while being “a major destination for gaming and entertainment products” through physical and digital retail.
The story continues