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

Chief Executive Ryan Cohen posted a picture with former MicroStrategy Inc. CEO Michael Saylor on social media over the weekend. The post sparked speculation on social media that videogame retailer and original meme stock GameStop may be planning a strategy around bitcoin GameStop has not yet responded to a request for comment.

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

Shares of GameStop and MicroStrategy were on the rise Monday after Ryan Cohen, CEO of the video game retailer, posted a photo with Michael Saylor, co-founder and chairman of the largest corporate holder of bitcoin.

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.

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.