GameStop, with $4.6 billion cash pile, might follow Saylor’s Bitcoin playbook, say analysts

• GameStop’s $4.6B cash reserve may prompt Bitcoin adoption as a treasury asset.
• MicroStrategy’s Bitcoin strategy influenced GameStop’s potential move toward crypto.
• GameStop’s new investment policy opens the door for digital asset investments.

GameStop CEO Ryan Cohen met with Michael Saylor of Saylor’s Strategy (formerly MicroStrategy) to discuss using Bitcoin as a treasury asset, as the company sits on a $4.6 billion cash reserve.

That $4.6 billion cash reserve, built from shareholder reduction and a belief in Cohen’s ability to turn the company around, is a wasting asset. It’s declining in real value each year thanks to inflation.

The rise of Bitcoin as a corporate treasury asset has been spearheaded by Saylor’s Strategy (formerly MicroStrategy), a software firm that turned its balance sheet into a Bitcoin-heavy one. 

Related: GameStop Shares Skyrocket Amid Renewed Retail Investor Fervor

The firm, led by Michael Saylor, has made billions of dollars worth of Bitcoin purchases, with its stock experiencing volatility. This approach has inspired others, including companies lik…

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