A campaign by members of the Reddit investor forum resulted in GameStop stocks rising to record highs.
SkyBridge Capital’s Anthony Scaramucci said today for the video game company GameStop, retail investor-led stock increases show that Bitcoin (BTC) will eventually succeed.
GameStop’s shares rose 92.7% on Tuesday, following a fluctuating trading session driven by a campaign largely run by members of the Reddit forum “WallStreetBets”. Stock trading was halted multiple times over the past week as price increases triggered market protections.
Shares increased by 50% after Elon Musk joined this discussion. Video game stock is currently valued at $ 10 billion and classified as a large volume stock, according to Bloomberg. In an interview with Bloomberg, Scaramucci said this strong individual merchant market action is “proof that Bitcoin will work” and should be “taken seriously”.
Scaramucci suggested that “decentralized” investor activity was similar to the underlying concept behind Bitcoin, while mobile-based and low-cost trading “democratized” previously narrow-minded markets:
“How will you beat this crowd? This means more confirmation for me about decentralized finance. ”
In early January, SkyBridge announced it was launching a new bitcoin fund.