GameStop shifts away from Bitcoin

CEO of GameStop Ryan Cohen says the company is shifting its strategic focus away from Bitcoin to concentrate on a “transformational deal” in the consumer/retail sector. According to interviews in late January and early February 2026, Cohen considers this opportunity “much more attractive than Bitcoin.”

The plan revolves around using approximately $9 billion in cash to acquire a publicly traded consumer business, thereby reshaping GameStop into a $100 billion conglomerate with ambitions similar to Berkshire Hathaway. Although specific targets have not been disclosed, Cohen emphasized that this is a “very significant” opportunity, focusing on undervalued companies with room to improve operational efficiency.

The strategy has received support from Michael Burry, who has taken a long position in GameStop. Meanwhile, GameStop has transferred all 4,710 BTC to Coinbase Prime, sparking speculation about a potential sale. Cohen has not confirmed any Bitcoin liquidation but stated that current capital priorities are focused on the large-scale consumer deal.