Could Meme Stocks Like Gamestop Kill Bitcoin’s Rise?

Cryptocurrencies, more so than most other things, are only valuable because of a shared agreement that they are valuable. Their value is a product of digital handshakes over millions of transactions firming up that consensus. For bitcoin, the trust that it has worth has turned more valuable in the past several months; it’s been on a tear. The (very bizarre) question is whether a new avenue of applying blind trust by brigading trashcan-level stocks and turning them into memes could threaten the appeal of cryptocurrencies for retail investors. Over the past several days, we’ve seen stocks ranging from GameStop, Blockbuster and AMC make unjustifiable gains as a result of Reddit users in the r/WallStreetBets subreddit triggering a stampede towards stocks being heavily shorted by institutional investors.

Topics:  reddit   occupy wall    s     s    f sssulaa january    bitcoin   it s   #bitcoin   cameron winklevoss    cameron january   td ameritrade    s    biden   jennifer epstein    jeneps january   gamestop   i   s    bitcoin    i   meme stocks   trust   valuable   market   tesla   buy   aren   ways   short   months   crypto   $gme   worth   currency   days   reason   cryptocurrency   blockbuster   r/wallstreetbets   store   world   
BING NEWS:
  • GameStop Implementing A Bitcoin Treasury Strategy Would Be 'A Brilliant Move' And Could Push The Stock To $1,000, Says Bitcoiner
    Bitcoin (CRYPTO: BTC) influencer Max Keiser suggested a strategy for GameStop (NYSE:GME) that would, in his opinion, push the stock price to $1,000.
    06/13/2024 - 8:39 am | View Link
  • Why this meme stock frenzy is different from 2021
    One thing that’s stayed the same? GameStop, along with other meme stocks, is still lacking when it comes to its balance sheet, says Craig Sarembock, a wealth advisor at Bartlett Wealth Management.
    06/12/2024 - 3:56 pm | View Link
  • GameStop tumbles for second day as meme-stock rally fades
    Other so-called meme stocks also gave back recent gains on Monday, with AMC Entertainment losing nearly 7% and headphone seller Koss down about 4%. Shares of GameStop nearly tripled in value over ...
    06/10/2024 - 6:05 am | View Link
  • GameStop Could Start 'Biggest Bitcoin Adoption Story Of The Year' With This Move, Trader Suggests
    GameStop’s potential moves to convert to a Bitcoin standard could be a game-changer in digital commerce. With a $5 billion Bitcoin investment by GameStop, their brand could transition into a more ...
    06/10/2024 - 3:07 am | View Link
  • VanEck Advisor Expresses Dismay in GameStop’s Rally, Deems Bitcoin Better than TradFi
    Gurbacs hailed the Bitcoin ecosystem as superior in his post, sparking significant debate within the global crypto community. This commentary comes amid intense scrutiny of digital assets by the SEC ...
    06/9/2024 - 8:30 am | View Link
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