GameStop (GME) is roaring, jumping by 9% on Monday, February 11, 2025. This happened after its CEO, Ryan Cohen, shared a photograph with Michael Saylor of Strategy.
Saylor is Strategy’s
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man. This photograph has brought discussions about GameStop’s pivot toward crypto investments. Another bullish catalyst for crypto.
GameStop’s $GME stock rises 7% after Ryan Cohen’s social-media post with Michael Saylor sparks Bitcoin $BTC chatter.
Crazy part is people are saying Roaring Kitty took the photo. pic.twitter.com/UDkRi8OimE
— Jesse Cohen (@JesseCohenInv) February 10, 2025
Saylor-Cohen and Their Impact on Crypto
GameStop (GME) has been a focal point of finance since early 2021 due to the influence of Keith Gill, known online as “Roaring Kitty.”
Gill, a former financial analyst, gained notoriety through platforms like Reddit and YouTube, where he endorsed GameStop. Gill argued that GME was significantly undervalued and was a prime candidate for a short squeeze.
In addition, Roaring Kitty’s detailed analyses and charismatic presence led to a massive retail investor movement rallying around GameStop stock.
This pump from Reddit’s WallStreetBets community (and subsequent meme coin Wall Street Pepe) resulted in GameStop’s stock price skyrocketing from under $4 to nearly $483 in January 2021. A pump that caused significant losses for institutional investors. Investors who bet against the company through short selling.
The phenomenon of Roaring Kitty and GameStop directly impacted institutional money, leading to what has been termed a “short squeeze.” The price increased as retail investors continued to buy GameStop shares and call options. Subsequently, hedge funds with short positions buy back the stock at much higher prices to cover their losses.
Roaring Kitty has probably onboarded millions of 20-30 year olds into crypto without even knowing it
Anyone who bought GameStop & AMC, and saw that they could only trade between “normal business hours” + dealing with the stock halting 20x per day, as well as Robinhood turning…
— borovik (@3orovik) May 25, 2024
Notable hedge funds like Melvin Capital were particularly hard-hit. Short sellers also lost billions in estimations. This is the power of coordinated retail investor action, just like what we see in crypto. Bitcoin and crypto, in general, allow retail investors to influence market dynamics that were dominated by institutional players.
Today, the catalyst for GME’s roar came from a social media post by Cohen over the weekend. The image depicted Cohen alongside Saylor, a well-known advocate for Bitcoin with Strategy that has made headlines for its massive Bitcoin holding.
GME Price Analysis: Is GameStop Heading For a Major Comeback?
GameStop has flirted with the crypto in the past. In 2022, the company experimented with web3 by offering a crypto wallet. However, the wallet was discontinued in late 2023 due to what GameStop cited as “regulatory uncertainty” in crypto. This Cohen-Saylor photo shows whether GameStop might be reconsidering its view on crypto.
The market reacted quickly to the Cohen-Saylor photo, with GameStop’s stock closing up 9.6% at $27.15 after trading as high as 10.2% during the day. This spike represents one of the month’s highest closing prices for GameStop stock.
Also, Strategy’s stock also saw an increase, closing up over 2% at $334.62, a positive market sentiment as Bitcoin pumps too.
(GMEUSD)
Speculation on Gamestop Comeback?
Under Michael Saylor’s leadership, Strategy has become the largest corporate holder of Bitcoin. They currently boast approximately $47 billion worth of crypto, accounting for roughly 2.5% of the total Bitcoin supply.
Saylor’s public endorsements and strategic decisions have historically influenced market perceptions of Bitcoin’s value and utility as an institutional investment.
The crypto community is now hoping for GameStop to adopt a similar way to Strategy by investing and/or integrating Bitcoin into its business. This could transform GameStop from a traditional video game retailer into a company with a stake in Bitcoin and crypto.
By holding Bitcoin, GameStop could diversify its asset base, reducing its reliance on the video game market. It will also attract a new demographic of GME investors who are interested in the growth of crypto. Integrating Bitcoin could position GameStop as a pioneer in retail, offering new services like crypto payments or revitalizing its digital wallet service.
GameStop’s stock pump clearly indicates how quickly market sentiment can shift based on speculation. The meme stock phenomenon, which saw GameStop at the center of attention in 2021, seems to have left a lasting imprint on how retail investors react to news and social media cues.
The involvement of figures like Cohen and Saylor, both known for their bold business moves, adds an extra layer of bullishness for the crypto market.
Montoya, por favor, never underestimate retailers and their dumb money.
EXPLORE: Crypto Trends For Bullrun – January 2025
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