Ryan Cohen, the CEO of gaming firm turned memestock GameStop, just acknowledged the proposal for the company to invest in Bitcoin (BTC).

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,

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.

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