The video game retailer closed its NFT marketplace and crypto wallet in the last few years, but it is now considering a Bitcoin investment strategy.

Key Takeaways GameStop shares popped nearly 8% in extended trading on Thursday after a report surfaced that the game retailer turned meme stock is considering investing in bitcoin and other cryptocurrencies.

An investor recommendation urging video game retailer GameStop Corp. (NYSE:GME) to adopt the Bitcoin (CRYPTO: BTC) standard caused cryptocurrencies themed on the company to surge on Tuesday.

GameStop confirmed it received a shareholder letter urging it to buy Bitcoin, which Swan Bitcoin’s John Haar says would “bake the noodles” of TradFi investors if it takes the advice.

The crypto and NFT gaming space is busier than ever lately, what with prominent games starting to release, token airdrops piling up, and a seemingly constant array of other things happening at all times.

The week was a rollercoaster ride in the world of cryptocurrencies. From GameStop-themed crypto rallying to a Trump-backed project bolstering Bitcoin and Ethereum, the crypto market was buzzing with activity.

Bitcoin hasn't moved in price much over the past week as investors pulled cash out of the American ETFs—and GameStop could reportedly buy in.

Even as GameStop's (NYSE:GME) stock surged on reports that the company is considering investing in Bitcoin (CRYPTO:

GameStop is considering investments in digital currencies as part of a broader strategy under CEO Ryan Cohen to diversify assets and improve profitability.

Renowned economist Peter Schiff criticized video game retailer GameStop Corp.’s (NYSE:GME) potential move to invest in Bitcoin (CRYPTO: BTC) on Thursday, likening it to a desperate attempt to gain relevance.

GameStop evaluates a proposal to invest $5 billion in Bitcoin, aimed at transforming its financial future as a gaming sector leader.