According to CNBC, GameStop CEO Ryan Cohen stated that the company is evaluating a "very, very large" consumer sector acquisition, targeting an undervalued publicly traded consumer company with long-term growth potential. If the deal succeeds, it could have a transformative impact on GameStop and is expected to boost the company's market value to the $100 billion level (approximately 10 times the current). Cohen did not disclose the specific acquisition target nor clarify whether the company will sell its Bitcoin holdings to finance the acquisition, only stating that the acquisition strategy is "more attractive than Bitcoin." Currently, GameStop holds 4,710 BTC, with an average purchase cost of about $107,900, and has previously transferred all Bitcoin from its wallet to Coinbase.
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According to CNBC, GameStop CEO Ryan Cohen stated that the company is evaluating a "very, very large" consumer sector acquisition, targeting an undervalued publicly traded consumer company with long-term growth potential. If the deal succeeds, it could have a transformative impact on GameStop and is expected to boost the company's market value to the $100 billion level (approximately 10 times the current). Cohen did not disclose the specific acquisition target nor clarify whether the company will sell its Bitcoin holdings to finance the acquisition, only stating that the acquisition strategy is "more attractive than Bitcoin." Currently, GameStop holds 4,710 BTC, with an average purchase cost of about $107,900, and has previously transferred all Bitcoin from its wallet to Coinbase.