GameStop CEO teases crypto payments for trading cards as analysts debate Bitcoin’s market peak.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
GameStop CEO Ryan Cohen has recently hinted that the video game retailer could soon allow customers to purchase trading cards using cryptocurrency.
Speaking with CNBC’s Squawk Box on Tuesday, Cohen revealed that GameStop is reducing its dependence on hardware sales amid rising costs. The company plans to focus on trading cards and collectibles, potentially accepting crypto payments in the future.
The executive added that the company will observe actual demand before fully committing. GameStop has yet to decide which cryptocurrencies it will accept, with Cohen stating, “We’re going to look at all cryptocurrencies.”
Notably, the retailer previously launched an NFT marketplace, which was shut down in January 2024 due to regulatory uncertainties.
On May 28, GameStop disclosed it had purchased 4,710 Bitcoin BTC $118 131 24h volatility: 1.1% Market cap: $2.35 T Vol. 24h: $79.77 B , worth over $500 million at the time, describing it as a “hedge against inflation.”
The company raised another $450 million last month, part of a $2.25 billion private convertible note offering, potentially for further Bitcoin investments.
GameStop’s renewed crypto interest arrives as Bitcoin trades near its all-time high, currently around $118,700, down only 3.5% from its peak of $123,000. The crypto market has expanded significantly in the past three months, with a $1.33 trillion addition to its total market cap.
However, analysts warn that Bitcoin’s dominance, currently at 63.77%, may have peaked if Ethereum’s ETH $3 141 24h volatility: 5.1% Market cap: $379.35 B Vol. 24h: $44.35 B upward momentum continues.
Crypto analyst Matthew Hyland suggested that if ETH remains strong, Bitcoin could lose its market dominance, potentially signaling a period of consolidation.
If #ETH breaks bullish and remains bullish against BTC there is a 99% chance BTC Dominance has topped
It is basically impossible for Dominance to push higher if ETH continues higher against BTC https://t.co/BRgJeoIxR1
— Matthew Hyland (@MatthewHyland_) July 15, 2025
Ether has gained nearly 10% in strength against Bitcoin over the past month, reflecting growing confidence in the broader altcoin market.
Despite mixed signals, many crypto analysts continue to predict a near-term target of $150,000 for Bitcoin.
As Bitcoin approaches another all-time high, Bitcoin Hyper ($HYPER), a Bitcoin-based Layer 2 project, has raised $3 million in its presale, with nine hours remaining before the next price adjustment.
Bitcoin Hyper is designed as a high-speed Layer 2 network, using Solana’s Virtual Machine (SVM) to bring smart contracts and faster transactions to the Bitcoin ecosystem, capabilities that Bitcoin Cash has not provided to date.
The project aims to integrate the speed and developer experience of Solana SOL $164.7 24h volatility: 2.0% Market cap: $88.35 B Vol. 24h: $12.97 B while maintaining the base layer security of Bitcoin’s network.
A central component of this setup is the Canonical Bridge, a decentralized, non-custodial bridge between Bitcoin and Bitcoin Hyper.
This system allows users to deposit native BTC into the bridge, which then mints an equivalent token on Bitcoin Hyper’s Layer 2, enabling the use of BTC within a faster, smart contract-enabled environment.
Bitcoin Hyper has opened token staking with 298% APY, shaping up to become one of the best crypto presales as it aims to expand Bitcoin’s utility via Layer 2.
As Bitcoin continues to attract market attention, Bitcoin Hyper reflects ongoing efforts within the crypto space to explore alternative scalability solutions for the Bitcoin network.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
