{"id":6054,"date":"2026-01-27T09:02:34","date_gmt":"2026-01-27T09:02:34","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=6054"},"modified":"2026-01-27T09:02:34","modified_gmt":"2026-01-27T09:02:34","slug":"burrys-back-and-hes-betting-on-gamestop-for-the-long-haul","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=6054","title":{"rendered":"Burry\u2019s Back\u2014and He\u2019s Betting on GameStop for the Long Haul"},"content":{"rendered":"

<\/p>\n

\n
\n
\n
    \n
  • Michael Burry, the man who inspired the Hollywood film <\/span>The Big Short<\/span><\/i>, is back. And this time he\u2019s betting big on one-time meme stock sensation, GameStop.<\/span><\/li>\n
  • Writing on Substack, Burry said he believes GameStop is a solid long-term investment largely based on his confidence in the company\u2019s CEO, Ryan Cohen.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    Michael Burry, the legendary investor and inspiration for the Hollywood movie The Big Short<\/em>, is back with another big bet and this one\u2019s a little surprising: he\u2019s going long on GameStop (GME) shares, of all things.<\/p>\n

    \u201cI own GME. I have been buying recently,\u201d Burry revealed in a Substack post published on Monday. \u201cI expect I am buying at what may soon be 1x tangible book value \/ 1x net asset value.\u201d\u00a0<\/p>\n

    Burry explained his investment in the video game retailer is largely based on his confidence in the company\u2019s CEO, Ryan Cohen. He said he\u2019s excited about seeing \u201cyoung [GameStop CEO] Ryan Cohen investing and deploying the company\u2019s capital and cash flows.\u201d<\/p>\n

    \n
    \n

    I believe in Ryan, I like the setup, the governance, the strategy as I see it.<\/em><\/p>\n<\/div>\n

    \n Michael Burry <\/div>\n<\/div>\n

    Shares in GameStop surged 6% on Monday following Burry\u2019s endorsement, but have since given back most of these gains. At the time of writing, shares were changing hands at just over US$24 (AU$35).<\/p>\n

    Burry wrote that he intends to hold his GameStop shares for the long term, perhaps decades, clarifying that it isn\u2019t some kind of speculative or meme stock type trade.<\/p>\n

    \n
    \n

    I am not counting on a short squeeze to realize long-term value\u2026I am willing to hold long-term, and I am excited to see where this goes.<\/em><\/p>\n<\/div>\n

    \n Michael Burry <\/div>\n<\/div>\n

    GameStop is most well known to investors as a meme stock, after throngs of retail investors coordinated on internet forums to buy the stock during the COVID lockdown era, forcing the share price higher and higher and squeezing larger institutional investors who had shorted the stock.\u00a0<\/p>\n

    During this memestock frenzy, the company took advantage of its elevated share price by creating equity offerings that helped it establish significant cash stockpiles. The company is now in a position to make strategic acquisitions when the time is right, according to Burry.\u00a0<\/p>\n

    \u201cRyan is making lemonade out of lemons,\u201d Burry claimed.\u00a0<\/p>\n

    \n
    \n

    He has a crappy business, and he is milking it [the] best he can while taking advantage of the meme stock phenomenon to raise cash and wait for an opportunity to make a big buy of a real growing cash cow business.<\/em><\/p>\n<\/div>\n

    \n Michael Burry <\/div>\n<\/div>\n

    In a filing submitted last week, it was revealed that the GameSpot CEO had also purchased one million shares in the company using his own personal funds. In a separate filing, Cohen was quoted as saying that he believes it\u2019s \u201cessential\u201d for CEOs of publicly listed companies to personally own shares in order to increase their alignment with shareholder interests.<\/p>\n

    Related: GameStop Shopper Pulls $115K Bitcoin From Trading Card Pack<\/strong><\/p>\n

    GameStop Invested Substantially in Bitcoin in 2025, But May Now Be Looking to Sell<\/h2>\n

    GameStop added significant amounts of Bitcoin to its balance sheet in 2025, as was the fashion of the day, but now the company may be looking to unload.<\/p>\n

    According to crypto analytics firm CryptoQuant, in May of 2025 GameSpot acquired 4710 BTC at an average price per Bitcoin of US$107,900 (AU$156k) for a total outlay of approximately US$504 million (AU$729m).<\/p>\n

    \n
    \n
    \n

    GameStop throws in the towel?<\/p>\n

    Their on-chain wallets just moved all BTC holdings to Coinbase Prime, likely to sell.<\/p>\n

    Between May 14\u201323, 2025, they bought 4,710 BTC at an avg. price of $107.9K, investing ~$504M.<\/p>\n

    Now selling for around $90.8K, potentially realising approximately\u2026 pic.twitter.com\/Bp7MwRVQ43<\/a><\/p>\n

    \u2014 CryptoQuant.com (@cryptoquant_com) January 23, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

    At the time, CEO Cohen said that the investment was driven by macroeconomic concerns and suggested that Bitcoin, with its fixed supply, could act as a hedge against certain risks. Well, unfortunately for Cohen and most other crypto investors, that thesis hasn\u2019t really played out and it looks like GameStop is looking to offload its Bitcoin stockpile.<\/p>\n

    On January 23, the company sent its entire 4710 BTC to Coinbase Prime, according to CryptoQuant. Generally when companies do this sort of thing it indicates an intention to sell.<\/p>\n

    Related: Saylor Warns \u2018Ambitious Opportunists\u2019 Are Bitcoin\u2019s Biggest Risk, Sparking Ossification Debate<\/strong><\/p>\n

    If GameSpot were to sell all its Bitcoin at the current price of around US$88,280 (AU$127k), it would realise a loss of around US$88 million (AU$127m) on its investment.<\/p>\n

    Commenting on GameSpot\u2019s Bitcoin investment, Burry said \u201cI do not know about this Bitcoin thing, but I cannot argue with what has been done so far.\u201d<\/p>\n<\/p><\/div>\n