GameStop Eyes Crypto Payments After $500M Bitcoin Bet

GameStop is considering accepting cryptocurrency as payment for trading cards and collectibles, depending on customer demand. CEO Ryan Cohen stated this initiative aims to reduce reliance on hardware and focus on collectibles. The company previously purchased $500 million worth of Bitcoin as a hedge against inflation. GameStop had earlier ventures into crypto with a wallet and NFT marketplace, but these were shut down due to regulatory uncertainty. Despite these past setbacks, GameStop is still interested in crypto. After Cohen's comments, GameStop's stock price remained relatively stable, closing at $23.20. The company recently raised $450 million that could potentially be used for future digital asset investments.