GameStop is considering using its $4.6 billion cash reserves to purchase Bitcoin following a recommendation from Strive Asset Management, potentially transforming the former meme stock into a major corporate Bitcoin holder.

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

Cohen's sizable stake in Alibaba is a bullish bet on China's economic growth in the long run, The Wall Street Journal said.