GME - GameStop Could Start 'Biggest Bitcoin Adoption Story Of The Year' With This Move Trader Suggests | Benzinga
Heavily-followed crypto trader The Bitcoin Therapist proposed that GameStop (NYSE:GME) could significantly benefit from adopting a Bitcoin (CRYPTO: BTC) standard.
What Happened: The Bitcoin Therapist suggested that GameStop could raise over $5 billion by issuing shares and converting this capital into Bitcoin at $70,000 per BTC. He outlined that this would result in approximately 71,400 BTC, potentially making it the most significant Bitcoin adoption story of the year.
The trader emphasized that such a move could increase demand for GameStop’s stock and expand its base of Bitcoin holders.
He further noted, "They are already an exceptionally overvalued company. They could continue to accrue Bitcoin and issue debt/shares to acquire more Bitcoin." ...