Peter Schiff Declares Bitcoin a “Gambler’s Delight” – GameStop Cries in Crypto

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Peter Schiff, the man who could find a cloud in a silver lining, has once again taken aim at Bitcoin, this time using GameStop as his metaphorical dartboard. The video game retailer, known for its rollercoaster stock prices and meme-worthy antics, recently decided to dip its toes into the Bitcoin pool. Schiff, ever the optimist, promptly declared it a “splash in the wrong direction.” 🏊‍♂️💥

GameStop’s plan to raise funds for Bitcoin purchases has been met with the kind of enthusiasm usually reserved for a new season of a Netflix show. Some investors are cheering, while others, like Schiff, are busy sharpening their pitchforks. In a recent post on X (formerly Twitter, but let’s not get into that), Schiff suggested that the 15% surge in GME’s price was less about strategy and more about FOMO—Fear of Missing Out, or as Schiff might call it, “Financial Oblivion Masquerading as Opportunity.”

As the stock lost its “Bitcoin-inspired 15% gain,” Schiff smugly declared that the smart money was selling. Because, of course, selling is always smart when Peter Schiff says so. He also took a swipe at Bitcoin’s institutional investors, calling them gamblers. Because nothing says “financial wisdom” like comparing Wall Street to a Las Vegas casino. 🎰

GME is now getting crushed. It’s down 22% on the day, down 26% from yesterday’s high. Gambling on companies buying Bitcoin is not a good investment strategy.

— Peter Schiff (@PeterSchiff) March 27, 2025

Schiff’s critique has sparked the kind of debate usually reserved for pineapple on pizza. Some agreed with him, while others questioned whether he’s just farming engagement with his anti-crypto takes. One X user even accused him of being the financial equivalent of a troll under a bridge. Meanwhile, others remain bullish on GameStop, because nothing says “solid investment” like a company that’s become a meme. 🐂

GameStop: The MicroStrategy Wannabe

GameStop’s Bitcoin strategy has drawn comparisons to MicroStrategy, the company that’s basically the Bitcoin equivalent of a kid who won’t stop eating candy. Michael Saylor, MicroStrategy’s founder, has reportedly encouraged GameStop to “go big or go home” with its Bitcoin purchases. Because if there’s one thing the crypto community respects, it’s a company that doubles down on digital gold. 🪙

Despite the recent dip in GME’s price, many investors remain optimistic. After all, if MicroStrategy can turn Bitcoin into a business model, why can’t GameStop? It’s not like they’re trying to reinvent the wheel—just the stock market. 🎡

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2025-03-28 00:55