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"



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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...



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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.

GameStop pulls a Microstrategy