In 2025, many companies were expected to make large purchases of Bitcoin (BTC), and one of them was the US-based giant gaming retailer GameStop.
GameStop attracted market attention with its Bitcoin purchase, and the company is now considering the possibility of acquiring a large publicly traded consumer goods company.
Speaking to Coindesk, GameStop CEO Ryan Cohen stated that they plan to acquire a publicly traded consumer goods company, adding that this acquisition is far more attractive than Bitcoin.
“We plan to acquire a very, very, very large, publicly traded consumer goods company. This strategy could transform the company in a groundbreaking way. It could increase GameStop’s value to hundreds of billions of dollars.”
Cohen did not disclose the target company he plans to acquire, but said he is looking for a company with undervalued stock, strong fundamentals, and a “sluggish management team.”
The market is also closely watching the possibility that GameStop will use its Bitcoin holdings to finance the acquisition of the new company. When asked at this point whether the company will cash out its Bitcoins, Cohen said, “It’s not time to say anything yet.”
This news helped GME’s stock price rise more than 8% on Monday, bringing its year-to-date gain to 25%.
This has recouped a significant portion of the losses GME has experienced since announcing in late May that it had purchased 4,710 Bitcoin (worth $428 million at the time).
*This is not investment advice.