At the Bitcoin 2025 Conference in Las Vegas, GameStop CEO Ryan Cohen revealed reasons behind the company’s recent purchase of 4,710 Bitcoin. The surprising announcement from GameStop shook the industry on May 28, with the purchase nearly costing 513 million to the firm.
In the recent interview, Cohen stated that Bitcoin can protect investors from the risks of global currency devaluation and serious problems in the financial system. He also pointed out that BTC has similarities to gold and other such benefits make GameStop take the decision.
“If the thesis is correct, then Bitcoin and gold as well can be a hedge against global currency devaluation and systemic risk,” Cogen said. “Bitcoin has certain unique advantages compared to gold.”
He pointed out that Bitcoin’s limited supply is more reliable than gold. While gold has a mature market capitalization of $20 trillion, Bitcoin is only at $2 trillion currently, so there is a huge room for Bitcoin to gain in future, he said.
According to him, the company has gone through various changes after he took charge as CEO, pointing toward reduced costs, efficient finance management, as well as introducing new sources of revenue by selling collectables and trading cards along with video games. Moreover, Cohen also mentioned that the company has become profitable in the United States now.
However, Cohen was not specific about future Bitcoin purchases, saying GameStop makes its own decisions and does not copy what other companies do. He ended by telling investors not to get caught up in the GameStop craze and “Decide what to do on your own.”
Also read: GameStop Stock Price Eyes $45 on the Heels of Bitcoin Strategy