Social media took discover yesterday when the CEO of the world’s second largest meme inventory after Tesla itself, Gamestop’s Ryan Cohen, out of the blue unfollowed all Bitcoin accounts on X.
His determination forged shade on David Bailey’s convention account, which has hosted keynotes by US President Donald Trump and Vice President JD Vance.
The choice is notable on condition that Gamestop presently owns 4,710 BTC value about $550 million — simply one-third the quantity that the corporate had hoped to purchase since April.
Regardless of its 4,710-BTC buy, skeptics have been underwhelmed with Cohen’s stage of funding. Mentioning his unenthusiastic tone and lack of ardour, critics referred to as him nugatory, non-Bitcoin, and an fool.
JUST IN: Ryan Cohen not follows any Bitcoin accounts and GameStop now sits on over $8.5 billion in money and $500 million in Bitcoin with a market cap of $10 billion.
What the hell is occurring over at GameStop? pic.twitter.com/2b6DCZO3FA
— The ₿itcoin Therapist (@TheBTCTherapist) August 7, 2025
Additionally they nicknamed him “Rugpull Ryan” to level out his share value’s 80% decline from its all-time excessive.
Particularly, Bitcoiners believed that Cohen was going to emulate Michael Saylor’s gross sales of bonds to accumulate extra BTC. Though Cohen did dump his Gamestop bonds, he didn’t buy BTC with the vast majority of these proceeds.
Ryan Cohen was supposed to purchase extra bitcoin
Gamestop raised $1.48 billion from bond gross sales in April, saying the corporate meant to fund BTC purchases and company operations with these proceeds. Nevertheless, Cohen solely spent about one-third of these proceeds on precise BTC.
Cohen has refused to follow-up on that single, Might 28 buy announcement.
Cohen’s obstinance regardless of his April promise infuriated many Bitcoiners. Actually, the corporate final reported greater than $6.3 billion in money, money equivalents, and short-term investments — but it hasn’t even bought the BTC it has guided since April.
