GameStop Eyeing Bitcoin? CEO Shares Photo with Michael Saylor
Original Article Title: "Thinking of Buying Bitcoin Stocks? GameStop CEO Posts Photo with Michael Saylor, GME Soars 9.7% in a Single Day"
Original Article Author: Ting, BlockTempo
I don't know if you still remember the "GameStop Short Squeeze Event" in 2021 that wiped out Wall Street retail investors. At that time, the American video game retailer GameStop faced difficulties due to its outdated business model and the impact of the COVID-19 virus, leading to being shorted by multiple Wall Street institutions.
However, a user named TheRoaringKitty (real name Keith Gill) called on retail investors in the community to actively buy GameStop stock (GME) to fight against Wall Street capital. The company's stock price skyrocketed from a low of $2.57 to $483 in a short period of time (an increase of about 190 times), creating a historic scene where retail investors squeezed Wall Street giants.
Is GameStop Interested in Bitcoin?
After the epic surge, GameStop's price continued to decline in recent years, nearing a low of $10 per share last April. It is worth noting that GameStop CEO Ryan Cohen tweeted on the 8th with a photo of him and Michael Saylor, the founder of MicroStrategy.
It once made the market widely speculate whether Ryan Cohen discussed Bitcoin investment strategy with Saylor, whether GameStop intended to enter the Bitcoin, and even the cryptocurrency field.
Although Ryan Cohen has not publicly responded so far, the "Retail Investor Uprising" color that GameStop naturally possesses aligns with the decentralization concept of the crypto field. This has attracted special attention to what kind of chemical reaction the two can generate.
Perhaps influenced by Ryan Cohen's tweet, the stock price of GameStop (GME) on the US stock market closed at $27.12 yesterday (10), with a high increase of 9.7%, temporarily halting the recent decline.
GameStop's Meme Coin $GME Surges 51% in the Last 24 Hours
On the other hand, the meme coin $GME on Ethereum also started to rise after Ryan Cohen's tweet, with the price increasing from 0.0001032 to a high of 0.0002079, a surge of 101%. As of now, $GME is priced at 0.0002027, with a 51.01% increase in the last 24 hours and a market cap of $82.30 million.
Additionally, the meme coin GME on the Solana blockchain has seen a 8.54% increase in the past 24 hours; however, meme tokens inspired by TheRoaringKitty have not shown significant price movements.
Nevertheless, it is still uncertain whether GameStop will decide to venture into Bitcoin. The BlockTimes reminds investors that meme coins are highly volatile, so please be cautious.
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