Popular Economist Mocks GameStop’s Bitcoin Plans

GameStop's potential Bitcoin investment has drawn criticism from Peter Schiff, who dismissed the move as a desperate attempt to stay relevant.

The outspoken Bitcoin skeptic argued that both GameStop and Bitcoin are overpriced, suggesting the retailer’s plan is more about boosting its stock than securing a solid financial strategy.

The announcement sent GME shares soaring 20%, echoing the 2021 meme stock frenzy that shook Wall Street.

While some companies have successfully integrated Bitcoin into their balance sheets—most notably MicroStrategy—Schiff believes that without a strong business foundation, simply adding Bitcoin won’t guarantee long-term success.

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GameStop is still evaluating its crypto investment options and has yet to make a final decision. CEO Ryan Cohen recently shared a photo with MicroStrategy’s Michael Saylor, sparking speculation, though reports suggest Saylor isn’t directly involved.

This wouldn’t be GameStop’s first venture into crypto; in 2022, the company launched a digital wallet service, only to shut it down a year later due to regulatory concerns.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.