GameStop Plans Crypto Payments for Collectibles Following $512M Bitcoin Investment

GameStop CEO Ryan Cohen told CNBC’s Squawk Box on July 15, 2025, that the company bought 4,710 BTC in late May, valued at $512 million at the time, to protect against inflation. He described the investment as a hedge against “global money printing”, citing concerns about monetary debasement. 

Cohen also said GameStop is exploring cryptocurrency payments for trading cards. “There’s an opportunity to buy trading cards and to do so using cryptocurrency. We’ll see how much there is on the actual demand side for that kind of product,” he told CNBC. He added that GameStop will “look at all cryptocurrencies” when considering payment options.

The company raised $2.7 billion in June through a private convertible note offering. Cohen said these funds could support future crypto purchases. He emphasized that GameStop will spend money “responsibly” and look for opportunities with limited downside and significant upside potential.

GameStop has changed its business model under Cohen’s leadership since 2021. The company now focuses on trading cards and collectibles instead of hardware sales. It operates fewer physical stores than before while building up its cash reserves.

The retailer previously tried other crypto ventures that failed. It shut down an NFT marketplace in January 2024 and closed a crypto wallet service in November 2023. Cohen cited U.S. regulatory uncertainty as a reason for ending these projects.

GameStop now holds Bitcoin in its treasury alongside more than $9 billion in cash and other securities, with its current BTC position representing just over 5% of total reserves. The company has not announced a timeline for implementing crypto payments or making additional cryptocurrency purchases.