GameStop Stock and Meme-Themed Crypto Surge After Ryan Cohen Shares Photo With Bitcoin Advocate

Ryan Cohen’s social media post with Michael Saylor fuels speculation about GameStop's potential cryptocurrency strategy.

GameStop stock rose by over 9% on Monday following a photo posted by CEO Ryan Cohen with Bitcoin advocate Michael Saylor.
The image sparked speculation among investors about potential cryptocurrency initiatives by GameStop, though no official plans have been announced.
GameStop-themed cryptocurrencies also saw significant gains, with one Ethereum-based token increasing by nearly 50% in trading volume and price.
GameStop has previously explored crypto ventures, including a now-discontinued cryptocurrency wallet launched in 2022.
Michael Saylor’s company, recently rebranded as Strategy, remains the largest corporate holder of Bitcoin, further fueling investor interest in the photo.