At the 2025 Bitcoin Conference in Las Vegas, in an interview with the CEO of Nakamoto David Bailey, the CEO of GameStop Ryan Cohen announced why the company bought over $505 million in Bitcoin.

Ryan Cohen started by explaining some things about the GameStop business.

“When I took over, the company was a piece of crap and losing a lot of money and was under a lot of pressure moving from physical gains to digital downloads so you had to cut costs,” stated Cohen. “Very aggressively bringing physical discipline and we did. Retail is a tough business, but it was a big focus on getting cost under control.”

When Bailey asked Cohen how many Bitcoin GameStop owned, Ryan responded,…

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