CEO Ryan Cohen confirmed on social media site X that he received a letter from Strive Asset Management urging the company to adopt bitcoin (BTC-USD) as a reserve asset. Cole sent the letter to Cohen on February 24,

Ryan Cohen, the CEO of gaming firm turned memestock GameStop, just acknowledged the proposal for the company to invest in Bitcoin (BTC).

GameStop evaluates a proposal to invest $5 billion in Bitcoin, aimed at transforming its financial future as a gaming sector leader.

GameStop has a unique opportunity to redefine itself as a market leader with its nearly $5 billion cash reserve, the letter said.

Strive invests in GameStop through multiple ETFs and states that it has a "vested interest" in GameStop adopting a Bitcoin strategy.