BITCOIN SEASON 2: Gamestop pulls a Microstrategy

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Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 29 March 2025

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

GameStop plans to buy $1.3B in Bitcoin, following MicroStrategy's playbook. How does this connect to GameStop's 2021 meme stock saga, company financials, and can this pivot can save a retailer whose core business is declining. You're listening to Bitcoin Season 2. Subscribe to the newsletter, trusted by over 7,000 Bitcoiners: https://newsletter.blockspacemedia.com We dive into GameStop's surprising announcement to raise $1.3 billion in convertible notes, potentially to buy Bitcoin. The hosts explore how this connects to the 2021 meme stock saga that gave GameStop its massive cash position, Ryan Cohen's relationship with Michael Saylor, and whether this Bitcoin strategy is a life raft for a retail gaming business in decline. With GameStop's revenue dropping from $8.5B to $3.8B over eight years, is this a smart pivot or just vibe investing? Notes: - GameStop announces $1.3B convertible note offering - Revenue declined from $8.5B to $3.8B in 8 years - Company has $4.76B cash on balance sheet - Cash position largely from 2021 meme stock frenzy - Zero debt after paying off all loans - Saylor posted photo with Ryan Cohen: "Team Bitcoin" Check out our Bitcoin scaling conference! Visit opnext.dev to learn more. Timestamps: 00:00 Start 00:28 GameStop enters the chat 02:05 GME be buying 07:58 Roaring Kitty Redux 10:43 Financials 13:25 Arch 13:56 Business evolution 20:14 Volatility trade 25:28 Not a crazy pivot 30:22 BTC makes an honest market or not... - 👉 Brought to you by Arch Network! Arch brings the speed of Solana & the best of crypto UX to Bitcoin. Tap into the rich app ecosystem on Arch & try out the testnet while you’re still early! Visit arch.network to learn more. - 👋Bitcoin Season 2 is produced Blockspace Media, Bitcoin’s first B2B publication in Bitcoin. Follow us on Twitter and check out our newsletter for the best information in Bitcoin mining, Ordinals and tech! Enjoy the show? Check out our website and newsletter by clicking here. Questions or want to sponsor? hello@blockspace.media See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Is GameStop the next micro strategy?
0:02.9	We're talking the biggest of memes, meeting the biggest of companies.
0:07.4	GameStop is buying billions in Bitcoin.
0:09.9	Yes, you heard that right.
0:11.5	We're going to talk about today on Bitcoin Season 2.
0:13.8	Bitcoin Season 2 is brought to you by Arch Network, building bridgeless apps on Bitcoin.
0:18.9	More on Arch later in the show.
0:20.1	Let's kick it off.
0:28.2	Colin, it's finally here.
0:30.6	The prophecy has been fulfilled.
0:34.4	A meme stock is converging on the meme financial strategy of not buying a meme coin,
0:41.8	but certainly buying something that has one of the strongest memetic energies of any asset in recent memory, Bitcoin.
0:48.3	We're going to create a meme black hole here with GameStop buying Bitcoin. Bitcoin's a black hole,
0:54.1	but I think this has the potential
0:56.5	to suck all the air out of whatever trend is hot. Like right now, everybody's talking about the
1:02.1	studio Ghibli edits on Chat GPT, but before you know it, those could take sideline to the
1:09.8	GME and Bitcoin story.
1:12.6	Or they may not.
1:13.8	Who knows?
1:14.3	We converge.
1:15.3	Studio Ghibli rendition of Michael Saylor and Ryan Cohen laughing on their yacht as they sucker
1:25.1	hundreds of thousands of investors into buying their stocks, which may or may not
	...

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