Gamestop is rumored to be exploring allocations in bitcoin as it seeks to broaden its financial horizons, according to individuals with knowledge of the situation who spoke to CNBC.

3 Sources Say Gamestop Is Considering Bitcoin for Balance Sheet Expansion

The videogame purveyor, Gamestop (NYSE: GME)—which soared to cult-favorite status during 2021’s retail trading frenzy—has privately deliberated channeling capital into bitcoin holdings, three insiders disclosed. While no commitments have been cemented, one source cautioned the initiative could totally dissolve.

This inquiry trails a recent dialogue between CEO Ryan Cohen and Microstrategy Chair Michael Saylor, a vocal bitcoin (BTC) proponent whose company oversees 478,740 BTC. Two informants emphasized to CNBC’s Yun Li and Gabrielle Fonrouge that Saylor is not formally counseling Gamestop on its bitcoin treasury approach.

Gamestop’s stock inched up 1.35% against the dollar Thursday, capping a 5.78% climb across the prior five sessions. Shares later leaped in post-market activity following CNBC’s disclosure. A December 2023 board resolution, the report adds, empowers Cohen and a dedicated panel to oversee securities portfolios if they adhere to protocols or obtain director consent.

The firm has not addressed speculation about these alleged talks publicly.