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GameStop is considering investing in bitcoin and other cryptocurrencies, sources say

1. GameStop explores investments in alternative assets, particularly bitcoin. 2. Shares rose nearly 20% in extended trading upon the announcement. 3. CEO Ryan Cohen's relationship with Michael Saylor hints at crypto interest. 4. GameStop previously launched crypto wallets but ended the service due to regulation. 5. The company holds $4.6 billion in cash, enabling potential investments.

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FAQ

Why Bullish?

The exploration of crypto could attract investor interest, similar to past meme stock hype.

How important is it?

GameStop's potential shift towards crypto could significantly influence market perception and stock dynamics.

Why Short Term?

Immediate investor responses reflect excitement over crypto investments; long-term effects are uncertain.

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