Gamestop CEO Ryan Cohen Unfollows Numerous Bitcoin-Related Accounts
On August 9, it was reported that Gamestop CEO Ryan Cohen suddenly unfollowed all Bitcoin-related accounts on the X platform, drawing attention on social media. Gamestop currently holds 4,710 Bitcoins worth approximately $550 million, which is only one-third of the amount the company had planned to purchase since April. Despite this, Cohen's investment approach is seen as lacking enthusiasm and has even been criticized as "worthless" and "not supportive of Bitcoin." Additionally, Cohen has been nicknamed "Rugpull Ryan" to highlight the fact that the company's stock price has dropped 80% from its all-time high. Although Gamestop raised $1.48 billion through a bond sale in April, claiming it would be used to purchase Bitcoin and for company operations, Cohen has only used about one-third of these funds to buy Bitcoin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
British Pound: Wider trading range expected against US Dollar – UOB
British Pound holds gains as UK GDP and Industrial Production beat expectations
UBS: Resumes coverage of Regeneron Pharmaceuticals (REGN.US) with a "Buy" rating; potential of blockbuster drug Dupixent underestimated
UBS has resumed coverage of Regeneron Pharmaceuticals (REGN.US) with a "Buy" rating and a target price of $978.
IMF sounds the alarm: Energy shocks and rising US Treasury yields pose spillover risks, Asia’s growth may slow to 4.4% next year
The IMF has lowered its growth forecast for Asia to 4.4% for next year, warning of three major risks: energy shocks, a correction in the AI boom, and rising global yields. The IMF also urged central banks to focus on price stability and avoid broad-based fuel subsidies.
Crypto prices
More
