GameStop CEO Ryan Cohen Mulls Crypto Payments After $500 Million Bitcoin Bet

GameStop is considering accepting cryptocurrency payments for trading cards and collectibles, potentially including multiple cryptocurrencies, not just Bitcoin. This move comes after GameStop invested $500 million in Bitcoin as a hedge against inflation. The company's CEO, Ryan Cohen, clarified that this investment isn't part of a larger trend of companies adopting Bitcoin as a primary treasury strategy, but rather a way to protect against inflation and dollar debasement. GameStop currently holds 4,710 Bitcoin tokens valued at approximately $559 million, making it the 14th largest public company holding Bitcoin. Bitcoin's price may experience a correction before potentially rising again, with key support levels identified at $114,949, $111,714 and $107,995. A potential breakout could see Bitcoin reaching a new all-time high of $125,968.