GameStop's stock experienced a significant boost after hours, rising from about $26 to nearly $31 following reports of its potential investment in Bitcoin and other cryptocurrencies. This rise in stock price follows GameStop's prior venture into the Web3 space, where it launched an NFT marketplace and crypto wallet aligned with gaming networks. In early 2024, the company had paused its crypto plans due to regulatory uncertainty but may be revisiting them now, particularly after the inauguration of President Donald Trump, who supports crypto initiatives. The timing of this news also coincides with the success of Strategy, a software firm holding a massive Bitcoin treasury, which has inspired other corporations to consider Bitcoin investments. Furthermore, GameStop CEO Ryan Cohen was recently seen with MicroStrategy co-founder Michael Saylor, further fueling speculation about the company's activities regarding cryptocurrencies.

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