Cohen posted a photo of himself with Michael Saylor, the executive chair of the business-software company and cryptocurrency play that recently changed its name to Strategy.

GameStop offered its own cryptocurrency wallet years ago but axed the feature in late 2023 over "regulatory uncertainty in the crypto space.”

Key Takeaways Shares of GameStop and MicroStrategy climbed Monday following a social media post over the weekend.GameStop CEO Ryan Cohen posted a picture early Saturday of himself with MicroStrategy cofounder Michael Saylor,

Shares of GameStop (GME) have jumped 7% higher after company CEO Ryan Cohen posted a photo online of him and Strategy (MSTR) Chairman Michael

Meme stocks like AMC Entertainment and GameStop get their price spikes from exceptional buying interest. GameStop jumped on Monday, rebounding from the 200-day moving average. Shares rose after  GameStop Chief Executive Officer Ryan Cohen posted a picture of himself with MicroStrategy CEO Michael Saylor.

Shares in the video game retailer and bitcoin holding company rose on Monday as social media users speculated GameStop might be considering a push into bitcoin.

Cohen uploaded the photo over the weekend on X, sparking speculation that GameStop is plotting another strategy around crypto.

GameStop Inc. (GME) stock jumped more than 8% on Monday amid speculation that the struggling video game retailer might be considering a Bitcoin-related initiative. The speculation was fueled by GameStop CEO Ryan Cohen posting a photo over the weekend with Strategy founder Michael Saylor.