If You Invested $1,000 In Bitcoin When Jim Cramer Told GameStop To ‘Buy A Ton Of Bitcoin,’ Here’s How Much You’d Have Today
Leading cryptocurrency Bitcoin (CRYPTO: BTC) has hit new all-time highs in November and January and is getting more attention Wednesday thanks to GameStop Corporation (NYSE:GME) becoming the latest public company to add BTC to its balance sheet.
The move marks the fulfillment of a bold suggestion made years ago by CNBC host Jim Cramer. Here’s what GameStop’s decision could mean, and a look back at Cramer’s original pitch.
What Happened: Cramer is taking a victory lap on the heels of GameStop announcing it will add Bitcoin to its balance sheet plan.
“GameStop is finally doing my Bitcoin ploy!” Cramer tweeted Tuesday.
GameStop has hinted at adding cryptocurrency investments before with the company changing its policy to allow CEO Ryan Cohen to invest the company’s cash in stocks and cryptocurrency back in December 2023.
An image of Cohen with Bitcoin investor Michael Saylor earlier this year prompted speculation that an investment could be coming.
GameStop ended the fourth quarter with $4.8 billion in cash and cash equivalents. The company did not announce when it will begin buying Bitcoin or how much it will buy. The decision follows that of Strategy Inc, Block, Rumble, Tesla and others, which have added Bitcoin to their balance sheets in recent years.
GameStop’s investment in Bitcoin could signal a new direction as the company struggles with declining sales and …
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