Reportedly the games retailer is considering whether to invest some of the cash in its war chest to buy BTC coins, which have soared following Trump's November election.

GameStop has a unique opportunity to redefine itself as a market leader with its nearly $5 billion cash reserve, the letter said.

The crypto and NFT gaming space is busier than ever lately, what with prominent games starting to release, token airdrops piling up, and a seemingly constant array of other things happening at all times.

The week was a rollercoaster ride in the world of cryptocurrencies. From GameStop-themed crypto rallying to a Trump-backed project bolstering Bitcoin and Ethereum, the crypto market was buzzing with activity.

Shares of GameStop gained more than 7% in extended trading Thursday, following a report that the company is weighing a bitcoin investment.

CEO Ryan Cohen confirmed on social media site X that he received a letter from Strive Asset Management urging the company to adopt bitcoin as a reserve

Bitcoin hasn't moved in price much over the past week as investors pulled cash out of the American ETFs—and GameStop could reportedly buy in.

EST GameStop (GME) weighing investments in bitcoin and crypto, CNBC reportsMaximize Your Portfolio with Data Driven Insights:Leverage the

Key Takeaways GameStop shares popped nearly 8% in extended trading on Thursday after a report surfaced that the game retailer turned meme stock is considering investing in bitcoin and other cryptocurrencies.

The video game retailer closed its NFT marketplace and crypto wallet in the last few years, but it is now considering a Bitcoin investment strategy.

Eyebrows were raised this past weekend when GameStop CEO Ryan Cohen posted a picture of himself with Michael Saylor.

GameStop is exploring investments in alternative asset classes, including crypto and in particular bitcoin, three sources said.