If Gamestop decides to buy Bitcoin, then Godzilla will be born
Samson Mow, a well-known Bitcoin maximalist and CEO of Jan3, recently proposed a bold idea on the social media platform X (formerly known as Twitter). Mow suggested that GameStop, the video game retail company made famous by a short squeeze in 2021, should add Bitcoin to its corporate reserves.
Bitcoin and GameStop benefit
He thinks this creates a “double bullish thesis,” leading to massive increases in both Bitcoin and GameStop stock values.
Mow’s proposal followed a similar statement by American financier Anthony Scaramucci. Scaramucci tweeted last Friday that GameStop should buy Bitcoin.
This idea came at a crucial time for GameStop, as the company fell nearly 40% in value on the same day after releasing its recent financial results and announcing plans to issue more shares.
Roaring Kitty is back
In addition, financial analyst and investor Keith Gill, better known as “Roaring Kitty” on X and YouTubelast Friday, his first livestream since 2021. He was known for his big bet on GameStop, with which he hoped to become a billionaire.
Unfortunately, this did not happen, as GameStop’s share price fell sharply again after an earlier increase of 50%.
The idea of adding Bitcoin to GameStop’s corporate reserves is not without risks, but it sends a powerful signal. Bitcoin is known for its volatility, but it has also built a reputation as a valuable investment.
If GameStop indeed decides to buy Bitcoin, this will strengthen investor confidence and possibly lead to the so-called “Godzilla candles” – huge price increases – that Mow talks about.
Mow and Scaramucci clearly believe in the potential synergy between Bitcoin and GameStop. As financial markets continue to fluctuate, we wait to see if GameStop takes this bold path and adds Bitcoin to its reserves.
