GameStop Evaluates Bitcoin Investment Amid Rising Share Prices

GameStop shares have surged an impressive 18% in after-hours trading, fueled by rumors that the company may be exploring investing in cryptocurrencies, particularly Bitcoin. According to a report released on February 13 by CNBC, which included testimony from three people familiar with the matter, including Bitcoin among the company’s potential new investments is a serious consideration.



“That could include Bitcoin,” one of the sources said, highlighting the still-speculative nature of the information. Despite the initial enthusiasm that sent shares to a high of $31.30, GameStop is currently considering whether these alternative investments are viable for its business strategy. One of the sources said that “the company is still evaluating whether this makes sense for the business.”
GameStop’s bullish rally cooled slightly as the day progressed, with shares falling back to $28.29, still a robust 7% gain after the regular market close.
Meanwhile, interest was not limited to the company’s traditional shares. A memecoin called GameStop (GME), based on the Solana blockchain and with no direct connection to the gaming retailer, also rode the wave of speculation. The cryptocurrency experienced a 45% increase in value, reaching US$0.0027, before suffering a slight correction to US$0.0025, according to data from CoinGecko.