After investing $500 million to buy Bitcoin (BTC), GameStop is taking a step further in its crypto comeback journey with a prospective payments rail.

The electronics retail company saw its crypto ventures shut down in the past amid regulatory concerns.

GameStop To Accept Crypto Payments with Bitcoin As Inflation Edge

Bitcoin’s allure as a hedge against inflation and dollar debasement continues to attract more players, with GameStop teasing as the potential next entrant.

In an interview with CNBC, GameStop CEO Ryan Cohen said the electronics firm was considering accepting crypto payments.

“There’s an opportunity to buy trading cards and to do so using cryptocurrency. So, we’ll see how much there is on the actual demand side for that kind of product,” Cohen revealed.

The pivot comes as the video game retailer moves to reduce its dependence on hardware, citing rising costs. As such, the change would see GameStop double down on trading cards and collectibles, payable using crypto. 

Notably, the purchase options would factor multiple crypto tokens, not necessarily adopting Bitcoin alone.

“We’re going to look at all cryptocurrencies…The utility of crypto beyond investing is a hedge against inflation. I think so far that’s been the biggest demand for crypto, and so, the ability to actually use crypto within transactions is something that is an opportunity and it’s something that we’re looking at,” Cohen added.

It comes barely a month after the firm reloaded its Bitcoin war chest with a $500 million purchase. The interest in Bitcoin raised speculation that GameStop was among firms adopting the Saylorization trend.

Cohen Denies Adopting Saylorization Trend

However, Cohen articulated that this was not the play, noting that for them, this was just a means to hedge against inflation and global money printing.

“We have our own unique strategy, and we have a very strong balance sheet of over $9 billion in cash and marketable securities, and we will deploy that capital responsibly as I would my own capital,” he explained.

Notwithstanding, it is impossible not to separate GameStop’s approach from that of Strategy (formerly MicroStrategy).

SEC filings show GameStop’s recent $450 million BTC purchase was facilitated via bond issuance, increasing total funds raised from its mid-June 2025 offering to $2.7 billion.

This mechanism mimics Strategy’s convertible bond issuances, with GameStop’s zero-interest bonds maturing in 2032. Notably, upon maturity, they can be converted into shares.

Meanwhile, data on Bitcoin Treasuries shows that GameStop holds 4,710 BTC tokens, which are valued at approximately $559 million at current rates.

With this, it is effectively the 14^th largest public company holding BTC, after Antony Pompliano’s ProCap and just before Semler Scientific.

“…companies worldwide are optimizing their financial infrastructure around Bitcoin. We’re not just seeing balance sheet hedges anymore, but full treasury engines built on hard money principles…Bitcoin isn’t replacing the system, but becoming an important hedge for companies thinking beyond short-term market cycles,” Joe Burnett, Director of Bitcoin Strategy at Semler Scientific, recently told BeInCrypto.

Will Bitcoin Correct Before the Next Upside?

According to the BTC/USDT trading pair on the on-day timeframe, Bitcoin price may be due for a correction before the next upside. This comes after the price breached the upper boundary of the Bollinger indicator at $121,388, indicating an overbought market.

The RSI (Relative Strength Index) position at 69 also accentuates this outlook, with an asset considered overbought when the index hits 70.

As such, the market may need to cool off before the next upside, with the overall trend still bullish as Bitcoin price consolidates within an ascending parallel channel. As the market cools off, late bulls could capitalize on potential entry points.

For starters, the 78.6% Fibonacci retracement level at $114,949, followed by the mid-line of the ascending parallel channel. In case these fail to hold as support, Bitcoin price could see more buying power due to the midline of the Bollinger indicator at $111,714 or the 50-day SMA (Simple Moving Average) at $107,995.

In the dire case, the support confluence between the lower boundary of the ascending parallel channel and the most crucial Fibonacci retracement level, 61.8%, at 106,298 could provide support.

Conversely, increased buying pressure above current levels could see Bitcoin price make another go toward a breakout, potentially ascending to market the next all-time high (ATH) at $125,968. Such a move would constitute a 6% move above current levels.