At the Bitcoin 2025 conference held in Las Vegas recently, Ryan Cohen, the CEO of GameStop, made an important statement, clearly pointing out that Bitcoin can serve as an effective tool to hedge against the depreciation of global currencies. This statement has attracted widespread attention in the industry.
Previously, GameStop officially confirmed its first purchase of 4,710 Bitcoins, with an investment amount of approximately 513 million US dollars. In the announcement on May 28th, it was stated that this Bitcoin purchase was the first since the investment plan was disclosed in March. Although the company did not disclose the specific purchase time and price, the price of Bitcoin was approximately $108,837 at that time.
Ryan Cohen stated at the conference that GameStop’s decision to purchase Bitcoin was based on macroeconomic considerations. He emphasized that the fixed supply and decentralized nature of Bitcoin can provide protection for companies against certain risks. If this theory is correct, both Bitcoin and gold can serve as hedging tools against global currency devaluation and systemic risks. Moreover, he also mentioned that Bitcoin has unique advantages over gold. “Bitcoin is convenient to store. Just keep it safely in your wallet.” However, storing gold requires purchasing insurance, which is costly. In addition, Bitcoin is scarce, with a fixed total of 21 million, while the supply of gold remains uncertain.
This move by GameStop is similar to the strategy of enterprise software company MicroStrategy, which has invested billions of dollars in purchasing Bitcoin in recent years and has become one of the largest enterprise holders. However, Cohen reaffirmed that GameStop is not following others’ strategies but is implementing its own transformation plan to address the challenges posed by the traditional video game retail business.
The funds for this Bitcoin investment came from debt financing. In addition, GameStop also initiated a $1.3 billion convertible bond issuance. As enterprises’ acceptance of Bitcoin continues to increase, GameStop is not the only participant. Since the beginning of this year, many companies, including Metaplanet in Japan and Meliuz in Brazil, have also been increasing their holdings of Bitcoin and adopting Bitcoin pool strategies.
Although GameStop’s stock experienced fluctuations after the release of the Bitcoin investment news, in the long run, Cohen is optimistic about the company’s future, believing that diversified investment can enhance the company’s risk resistance capacity. As the global market’s recognition of digital assets continues to rise, GameStop’s decision may bring new growth opportunities to the company.
Whether Bitcoin can truly effectively hedge against global currency depreciation as expected by the CEO of GameStop remains to be further tested by time and the market. However, it cannot be denied that the entry of GameStop has added new variables to the development of the cryptocurrency market and has also prompted more investors and enterprises to re-examine the role and potential of Bitcoin in asset allocation.
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