GameStop reignites investor interest as CEO eyes “monumental” takeover — and the firm’s crypto stash is part of the story. Shares jumped Monday after media host Charles Payne said he would pass on interviewing CEO Ryan Cohen, who told investors he’s focused on a “monumental” project. The move underscores a quiet, high-stakes pivot away from GameStop’s loss-making retail image toward a new, investment-led identity. The balance sheet gives Cohen firepower: roughly $9 billion in cash and liquid assets, plus a strategic reserve of about $519 million in Bitcoin. Cohen is repositioning GameStop as a diversified investment vehicle — investors and commentators have even drawn comparisons to Berkshire Hathaway — and is publicly hunting for a “major acquisition” of a publicly traded company, likely in consumer or retail. He says he’s targeting “diamonds in the rough” with underperforming management, seeking an undervalued, durable, scalable consumer business that could be larger than GameStop itself. Cohen candidly acknowledged the bet could be “genius or totally, totally foolish.” Cohen’s pay package is fully performance-based: he earns only if GameStop reaches a $100 billion market cap and generates $10 billion in EBITDA, aligning his incentives with a transformational deal. High-profile investor Michael Burry has voiced support for Cohen’s plan to deploy GameStop’s cash — and its crypto reserve — to acquire a profitable, cash-generating company. Operationally, GameStop is winding down legacy retail operations as store closures accelerate in 2026, funneling more resources toward this strategy. The details of the potential acquisition remain tightly held, leaving markets to speculate on what Cohen’s “monumental” move will be — and how that $519 million Bitcoin position might factor into the company’s next chapter. Read more AI-generated news on: undefined/news

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