GameStop (GME) rallied as much as 9% on Monday after its chief executive Ryan Cohen shared a picture with Michael Saylor on X. Saylor is the chairman of MicroStrategy (MSTR) (now known as Strategy), a business intelligence firm based out of Tysons, Virginia that’s been buying Bitcoin (BTCUSD) since 2020.
Interest in GME shares is increasing today as investors wonder if Cohen’s picture with Saylor could mean the gaming merchandise retailer is gearing up to shift its focus to Bitcoin. Such a strategic shift could breathe new life into GameStop stock, just as it did in MSTR that has rallied close to 25 times since it first started buying Bitcoin at the peak of the pandemic.
