In a CNBC segment yesterday, stock expert Jim Cramer was asked about his thoughts on Gamestop (GME) and its future with Ryan Cohen, a Chewy co-founder, leading a new shift into e-commerce.
Cramer questioned those selling GameStop amid its transition into a more digital business model, showing faith in its future.
"Those who are selling this off I challenge whether they realize that this is the whole war chest that Ryan may need in order to make this company a different company," said Cramer.
While discussing GameStop's viability as a buying opportunity, Cramer insinuated that the company could eventually have some sort of pairing with cryptocurrency that might propel it forward.
When asked what the company may need to compete in the digital space, Cramer said "maybe they've got a plan to do something with crypto."
"If this were to be issued right now with a crypto kicker, I think it could very easily get to where it is," he continued.
A long-time pundit on the stock market, Cramer has slowly become more fond of cryptocurrencies and their place in the investor’s portfolio.
In an interview with TheStreet today, Cramer was asked his thoughts on where the cryptocurrency markets can go from here after such impressive gains. Cramer recommended that investors have some level of exposure to the cryptocurrency in their portfolios.
“I own Bitcoin personally. My kids own Bitcoin,” said Cramer. “I genuinely like Bitcoin for scarcity and I’m recommending to have it as some part of your portfolio along with gold.”
When asked how he felt about stocks that have become involved with the crypto industry, he said "that's what I like to do. I like stocks of companies that have adopted it. I have always said that I think Square is terrific because they are willing to give you a piece of Bitcoin. I think Paypal is a place to focus on Bitcoin. My limited purview is the companies that are giving you the opportunity, and I favor those over the ones that aren't."