Well, folks, it seems GameStop has decided to take a page out of the “How to Stay Relevant When You’re Irrelevant” playbook. Jason Calacanis, the ever-so-charming angel investor, couldn’t resist poking fun at the video game retailer’s latest stunt: adopting Bitcoin as a reserve asset. 🎮💰
“If you’re a public company that can’t figure out a business model, buy bitcoin!” Calacanis quipped, with the kind of sarcasm that could make a cactus blush. He even joked that this might be solid advice if Michael Saylor, the Bitcoin evangelist and Strategy co-founder, ends up buying $1 trillion worth of the digital gold. Now, that’s a plot twist even Hollywood wouldn’t dare script. 🍿
As reported by U.Today, GameStop, the poster child of meme stock mania in 2021, announced its Bitcoin pivot, which gave its stock a little bump in after-hours trading. But Bitcoin? It barely blinked. Guess the crypto world isn’t as easily impressed as Wall Street’s meme-loving traders. 📈😴
Some folks in the crypto community are celebrating this as a win for corporate Bitcoin adoption. Michael Saylor called it a “step in the right direction.” But James Check, the former lead analyst at Glassnode, wasn’t buying it. He recalled his half-joking prediction that “zombie companies” like GameStop would mark the market top by adopting Bitcoin strategies. And let’s be honest, if the “serious” companies aren’t rushing to join the Bitcoin bandwagon, maybe it’s time to ask: Is this a trend or a train wreck? 🚂💥
That said, GameStop isn’t exactly broke. The company’s sitting on $4.6 billion in cash and has a market cap of over $11 billion. So, maybe this Bitcoin pivot is just their way of saying, “We’ve got money to burn, and we’re not afraid to use it.” 🔥💸
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2025-03-26 10:41