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Bitcoin crack at GameStop: "It will become a zombie company"
Matt Cole, CEO of the asset management company Strive Asset Management, stated that there was no consensus on GameStop's decision to acquire Bitcoin as a reserve.
Last month, the company that opened the door to Bitcoin acquisition by updating its investment policy had financed this move by issuing 1.5 billion dollars worth of convertible bonds.
Cole stated in an interview, "They will buy Bitcoin; however, it has not been determined how much they will buy." Noting that there are disagreements among the company's board members and in Reddit communities like Superstonk about whether the strategy will be implemented "fully or partially," Cole commented, "If the community does not fully support it, other stakeholders at GameStop will not act in alignment with this strategy."
Matt Cole warned, "If the company does not solve its structural problems, it cannot move forward; it must fully commit to Bitcoin, otherwise it will become a 'zombie company.'"
Published: April 26, 2025 16:56