If you ever needed proof that today’s stock market speculation is one giant meme, here it is… GameStop is up again. But this time, it’s not because of Roaring Kitty posting an ambiguous image of a gamer inching forward in his chair like he just spotted an enemy squad in Call of Duty: Warzone. No, today’s fuel is a new character in the meme stock cinematic universe… Michael Saylor, the Bitcoin evangelist himself.

On Saturday, GameStop CEO Ryan Cohen posted a photo with Saylor, co-founder and chairman of Strategy (formerly MicroStrategy, but apparently they’re in their one-word brand name era). And just like that, when the market opened today… traders lost their collective minds. GameStop shares jumped over 7%, while Strategy saw a smaller, but still notable, 1% gain. Because if a single image of two business dudes shaking hands doesn’t scream bullish signal, then what does?

Naturally, the internet did what the internet does… it speculated. Was Cohen hinting at GameStop making another run at crypto? Would the company take a page out of Strategy’s playbook and buy Bitcoin with its $4.6 billion in cash and cash-like securities?

For the uninitiated, Saylor has been running a masterclass in "How to Turn a Software Company Into a Bitcoin ETF." His company has basically given up pretending to do much else… just last week, Strategy added even more BTC to its stash, bringing its total to 478,740 bitcoins, worth about $47 billion. The only corporate entity with more Bitcoin than them is, well, Bitcoin itself.

GameStop, on the other hand, has a rocky history with crypto. Back in 2022, it launched an NFT marketplace in what can only be described as one of the most tragically timed product rollouts of all time. In fact, the company quietly pulled the plug on that idea earlier this year (surprised it lasted that long).

Roaring Kitty’s shadow still hangs over GameStop’s stock. His mere existence is enough to keep retail traders on edge, waiting for his next cryptic message like he’s some kind of stock market Oracle of Delphi.

But Cohen has been the real fundamental bull case for GME. Ever since he took over, he’s been on a mission to transform the struggling video game retailer into something far more than a mall relic. What that something is? TBD.

Still, Cohen linking up with Saylor adds a new flavor to the mix. Maybe it’s nothing. Maybe they were just discussing the best way to hold billions of dollars in an asset that fluctuates more than Trump’s Truth Social activity. Or maybe, just maybe, GameStop is preparing to go full degen again.

Either way, money Twitter is going to spend the next week decoding this photo like a Blake Lively/Justin Baldoni text exchange, and GameStop traders will be watching Cohen’s next move very closely.

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Stock.News does not have positions in companies mentioned.