Bitcoin News Today: Investors bet on Bitcoin and trading cards to save GameStop’s declining gaming business

GameStop is about to report second-quarter results, with analysts expecting revenue of $823.25 million and earnings per share of 16 cents. The company purchased a total of 4,710 bitcoins between May and June and has now appreciated to $112,383.77 each. Despite first-quarter collection revenues rising to $211.5 million, Wedbush analyst Michael Pachter maintained a “underperforming” rating, citing his skepticism about Bitcoin’s role in the long-term recovery. CEO Ryan Cohen clarified that Bitcoin is an inflation hedging tool, not a core strategy.