GameStop May Accept Crypto for Trading Card Payments, Says CEO Ryan Cohen

Highlights:

• GameStop might support crypto for trading cards, depending on demand.
• CEO Ryan Cohen views crypto as more than an investment tool.
• GameStop plans to expand beyond gaming hardware into collectibles and crypto.

GameStop CEO Ryan Cohen said the company is considering a cryptocurrency payment option to make trading card purchases. Speaking on CNBC Squawk Box, he stated that the firm is considering the possibility of providing the option of customer payments using crypto, considering the needs of its customers.

The company is no longer concentrating on low-margin gaming hardware. Rather, it will focus on expanding its line of collectibles, particularly trading cards. Cohen said that crypto might be a flexible mechanism for modernizing the process of purchasing. GameStop is not limiting itself to Bitcoin. It is examining leading cryptocurrencies as possible solutions. A final decision has not been reached, but Cohen pointed out that customer interest will be crucial to any eventual rollout.

🇺🇸 $11 BILLION GAMESTOP CEO JUST SAID LIVE ON CNBC THEY ARE LOOKING TO INTEGRATE #BITCOIN AND CRYPTO PAYMENTS

THIS IS HUGE!!! pic.twitter.com/JBq5dOGfLN

— Vivek⚡️ (@Vivek4real_) July 15, 2025

Bitcoin Investment Reflects Long-Term Strategic Planning

Besides considering crypto payments, GameStop recently invested $500 million in Bitcoin. This strategic step was made after it was approved by the board, allowing the company to invest in digital assets such as Bitcoin and stablecoins.

In May 2025, GameStop purchased 4,710 BTC, following a meeting between Cohen and Michael Saylor, an advocate of Bitcoin. At present prices, the position in the company is now worth around $559.1 million. Cohen made it clear that the investment did not aim to reflect the aggressive model of Strategy. Rather, GameStop took a more conservative step supported by a balance sheet of more than $9 billion in cash and securities.

To finance its Bitcoin acquisition, the company raised a bond offering of $2.7 billion at zero interest. Moreover, the maturity date of these bonds is 2032, and they can be converted to company shares. GameStop plans to manage capital responsibly, and the opportunities will enable a good upside and a small downside.

GameStop Considers Crypto Payments Based on Market Demand

Cohen also addressed the topic of how crypto can serve beyond utility as a speculative investment. He considers digital currencies appropriate in actual business transactions, mainly in retail settings where the products are collectibles and trading cards.

The inclusion of crypto would become a significant shift in the GameStop payments process. The firm had already ventured into the crypto market, releasing a digital wallet and non-fungible token market. However, both of them were shut down in 2023 because of regulatory issues. Despite those shutdowns, Cohen reaffirmed that GameStop is still open to crypto innovations. The company is currently looking at the space with a renewed perspective and a more demand-focused manner.

In addition, the company is also keenly observing the market to see if customers would like to conduct purchases using crypto. Should the demand surge, GameStop may be among the first major retailers to embrace crypto in real-world purchase transactions. Such a transition aligns with the shifting business model of GameStop. As gaming hardware becomes less profitable, the company is doubling down on collectibles and other high-margin products. Offering flexible payment options like crypto supports this transition.