**Strive, a $2 Billion Asset Manager, Encourages GameStop to Embrace a Bitcoin Treasury Strategy**
On Tuesday, February 25, GameStop CEO Ryan Cohen shared that he had received a letter from Strive, the asset management firm co-founded by Vivek Ramaswamy, suggesting that GameStop should consider purchasing Bitcoin with its cash reserves. The beloved video game retailer, which became a sensation during the 2020 and 2021 meme stock phenomenon, reported holding an impressive $4.6 billion in cash as of Q3 2024. On February 13, 2025, it was revealed that GameStop was contemplating investing a portion of this cash in Bitcoin and other cryptocurrencies.
In Strive’s letter dated February 24, CEO Matt Cole expressed enthusiasm for this potential move but advised GameStop to focus solely on Bitcoin, steering clear of other cryptocurrencies. Cole highlighted Bitcoin’s reputation as “digital gold” and its clear branding as key reasons for this focused approach. He argued that by allocating a significant portion of its cash reserves to Bitcoin and utilizing capital marketing strategies like convertible debt offerings, GameStop could evolve “from meme stock to market leader one Bitcoin at a time.”
This Bitcoin-centric treasury strategy has been successfully championed by Strategy (formerly MicroStrategy), which is recognized as the largest corporate holder of the digital asset. Interestingly, earlier this month, GameStop’s Cohen was spotted with Strategy Chairman and well-known Bitcoin advocate Michael Saylor, further fueling speculation about this direction.
Strive’s interest in GameStop’s potential foray into the crypto space is particularly relevant as its clients hold shares of the video game retailer through exchange-traded funds. Strive emphasized that this connection gives it “a fiduciary responsibility and a vested interest” in GameStop’s success. While Strive’s suggestion has generated excitement within crypto communities, as seen by the uptick in GME memecoins, some retail GameStop investors remain skeptical, questioning whether Strive has “enough skin in the game” to make such a recommendation.
Despite this mixed reaction, it’s worth noting that companies that have adopted Bitcoin treasury strategies often experience significant short-term share price increases, although experts continue to discuss the long-term risks involved.
