{"id":277552,"date":"2025-05-28T18:06:03","date_gmt":"2025-05-28T18:06:03","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/05\/28\/gamestop-ceo-ryan-cohen-announced-acquisition-of-over-505-million-bitcoin\/"},"modified":"2025-06-25T17:08:15","modified_gmt":"2025-06-25T17:08:15","slug":"gamestop-ceo-ryan-cohen-announced-acquisition-of-over-505-million-bitcoin","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/05\/28\/gamestop-ceo-ryan-cohen-announced-acquisition-of-over-505-million-bitcoin\/","title":{"rendered":"GameStop CEO Ryan Cohen Announced Acquisition Of Over $505 Million Bitcoin"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div data-td-block-uid=\"tdi_61\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>At the <a href=\"https:\/\/bitcoinmagazine.com\/conference\/bitcoin-conference-2025-las-vegas-livestream-day-2\">2025 Bitcoin Conference<\/a> in Las Vegas, in an interview with the CEO of Nakamoto David Bailey, the CEO of GameStop Ryan Cohen announced why the company bought over $505 million in Bitcoin.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p>Ryan Cohen started by explaining some things about the GameStop business.<\/p>\n<p>\u201cWhen I took over, the company was a piece of crap and losing a lot of money and was under a lot of pressure moving from physical gains to digital downloads so you had to cut costs,\u201d stated Cohen. \u201cVery aggressively bringing physical discipline and we did. Retail is a tough business, but it was a big focus on getting cost under control.\u201d<\/p>\n<p>When Bailey asked Cohen how many <a href=\"https:\/\/bitcoinmagazine.com\/guides\/what-is-bitcoin\">Bitcoin<\/a> GameStop owned, Ryan responded, \u201cWe currently own 4710 Bitcoin.\u201d<\/p>\n<p>Then Ryan mentioned why they are adding Bitcoin to their balance sheets.<\/p>\n<p>\u201cIf the thesis is correct then Bitcoin and gold as well can be a hedge against global currency devaluation and systemic risk,\u201d mentioned Ryan. \u201cBitcoin has certain unique advantages better than gold.\u201d<\/p>\n<p>He commented on the benefits of Bitcoin compared to gold.\u00a0<\/p>\n<p>\u201cYou can easily secure Bitcoin in a wallet whereas gold requires insurance and it\u2019s very expensive and then there is the scarcity element of this as well,\u201d commented Ryan. \u201cThere is a fixed supply of Bitcoin whereas with gold, the supply of gold is still uncertain.\u201c<\/p>\n<p>Ryan finished the announcement by saying, \u201cGameStop is following GameStop Strategy. We are not following anyone else\u2019s.\u201d<\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/bitcoinmagazine.com\/news\/gamestop-ceo-ryan-cohen-announced-acquisition-of-over-505-million-bitcoin\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] At the 2025 Bitcoin Conference in Las Vegas, in an interview with the CEO of Nakamoto David Bailey, the CEO of GameStop Ryan Cohen<\/p>\n","protected":false},"author":1,"featured_media":277553,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/277552"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=277552"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/277552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/277553"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=277552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=277552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=277552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}