Scaramucci Suggests GameStop Buy Bitcoin Amid Financial Struggles
American financier Anthony Scaramucci has proposed that video game retailer GameStop should invest in Bitcoin, the largest cryptocurrency by market cap.
This suggestion comes after GameStop’s shares plummeted by roughly 30% following disappointing financial results and a plan to issue more shares. Previously, GameStop’s shares had surged nearly 50% due to a livestream announcement by “Roaring Kitty” (Keith Gill), a prominent financial analyst.
The latest financial blow halted Gill’s anticipated celebration of becoming a paper billionaire. GameStop attributed the recent rally to non-fundamental factors, indirectly criticizing “Roaring Kitty.” The company had earlier ventured into the crypto space, launching self-custodial wallets and an NFT marketplace in 2022, but both were subsequently discontinued.
Mooch’s Opinion:
Scaramucci’s suggestion highlights the growing intersection between traditional finance and cryptocurrencies, but GameStop’s recent history with crypto ventures suggests caution.
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