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.
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.
After weeks of uncertainty, the bearish grip on Bitcoin may finally be easing, according to a recent analysis by crypto research firm Swissblock.
On April 17, 2025, U.S. spot Bitcoin ETFs experienced a significant uptick in inflows, while Ethereum ETFs saw no net movement, according to data from Farside Investors.
Bitcoin has soared to new heights in 2024, yet the excitement that once accompanied these milestones is strangely missing. Instead of wild rallies and viral trading crazes, the current market feels almost businesslike—more calm than chaos.
Oklahoma is stepping away from its bid to create a state-managed Bitcoin reserve after a closely watched proposal failed to clear a key hurdle in the State Senate.