This is old news on the scene; however, I was reflecting about it today, will GameStop start purchasing Bitcoin trigger a herd effect on other “ghost companies”?

I lived in the US for 6 months for a high school exchange program, in 2007. I lived in a town with 10.000 inhabitants and the GameStop was the coolest place around. At the time, the big hit with teenagers there was Guitar Hero, but me as a typical Brazilian was only interested in the Pro Evolution Soccer. This is to say, I saw the golden years of the store.

I went back to the US a few years ago and went to a GameStop to see how nostalgic that experience was going to be, and I was a bit in shock, it was a depressing store, missing a few games on the shelves, a bit empty, just not the same place as it was back then. In 2021 we had the short squeeze on its stock, but that’s just another story.

Since 2021, the company has been considered a meme company/stock, and seen as a type of business that was long disrupted by the new technologies in the industry, still they were able to hold the valuation in 10 billion dollars, and half of it, they have in cash 5 billion. Only by keeping this amount in bonds, GME could generate 200 million a year on yield and maybe just buy BTC with that?

I don’t know, I am not their CEO, I would just do an all-in with the cash they have and become a BTC treasury company just like MSTR is and invest in R&D to see how to generate business from it – probably what Michael Saylor told Ryan Cohen to do.

What do you think, will other companies that may become obsolete and are still surviving go for this strategy? Who’s next?