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

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.

An investor recommendation urging video game retailer GameStop Corp. (NYSE:GME) to adopt the Bitcoin (CRYPTO: BTC) standard caused cryptocurrencies themed on the company to surge on Tuesday.

The firm urged GameStop to avoid investing in other cryptos, calling Bitcoin the only “true store of value” among digital assets.

GameStop has confirmed receipt of a letter from Strive Asset Management, urging the retailer to use its cash reserves to invest in Bitcoin.

GameStop is exploring investments in alternative asset classes, including crypto and bitcoin in particular, three sources said.

Investing.com -- Strive Asset Management's CEO, Matt Cole, has proposed to GameStop (NYSE: GME) that the company should adopt the Bitcoin Standard. In a letter to GameStop's Chairman and CEO, Ryan Cohen, Cole outlined a strategy that he believes could transform the company's financial future.

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,