GameStop CEO teases crypto payments, says Bitcoin buys are inflation hedge
Ryan Cohen says GameStop’s $500 million investment in Bitcoin was to act as a “hedge against inflation and global money printing.”
GameStop CEO Ryan Cohen has teased that the video game retailer could start accepting crypto for trading card purchases and said the company’s Bitcoin buys aren’t copying MicroStrategy.
Cohen told CNBC’s Squawk Box on Tuesday that GameStop shifted tactics to reduce reliance on hardware in the face of rising costs and focus more on trading cards and collectibles, which could one day be bought using crypto.
“There’s an opportunity to buy trading cards and to do so using cryptocurrency. So, we’ll see how much there is on the actual demand side for that kind of product,” he said.