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Stefan21
@stefan_21
1Mo·

Gamestop has just announced its first BTC purchase🚀

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31 Commentaires
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21SatsCapital@SatsStacker
1Mo
I thought all the Reiners were going into $RHM otherwise. 😂
Simply stacking sats and hodling should be enough for the normalo. 😀
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CrashBurner@Psychedelic_Sunflower
1Mo
Wann Moon?
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Stefan21@stefan_21
1Mo
@Psychedelic_Sunflower 6:30 pm - but it probably depends on the announcement😂
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Shem_sen@Shem_sen
1Mo
Am pure 🚀🚀🚀🚀
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CaYaRo@CaYaRo
1Mo
Now I also know the reason why the stock fell 10% intraday (from the daily top).
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Stefan21@stefan_21
1Mo
@CaYaRo The daily top came directly after the announcement :) So the share price reacted positively and has now fallen a little. But since the overall market is currently falling, that doesn't necessarily mean much. Wait and see :)
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CaYaRo@CaYaRo
1Mo
@stefan_21 -16% and this will probably increase towards the end of the day;
IMHO, disappointment prevails in the market;

the hope would have been that GME is planning (after NFT, PSA, online gaming and all the other announced digital stuff) on a more far-reaching sustainable business case of the future;

instead they just buy mindless BTC 🤦‍♂️
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Charmin@Charmin
1Mo
Herrje …
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Das Portfoliopferd@Portfoliopferd
1Mo
I think companies are welcome to hold Bitcoin as a reserve, especially if they make too much profit and don't know how to invest it. But I have heard that this is not the case with GME.
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Stefan21@stefan_21
1Mo
@Portfoliopferd It's all very weird with GME. I think they have around 4 billion in cash.
But they issued convertible bonds worth 1.3 billion for the BTC purchase.
Instead of the 1.3 billion, they only invested around 500 million.
And when asked about their future strategy, Cohan was evasive and said that they are not following a strategy, will not announce any further purchases and are "doing their thing".
When asked what message he wanted to send to the world, he said live at the BTC conference that everyone should do what they want and - YOLO😂
So I think the expectations of GME regarding Bitcoin were far exceeded verfehlt🤷‍♂️
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UltimateValueFighter@UltimateValueFighter
1Mo
Why do they buy Bitcoin? Is there a special reason for this?
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Echsenkönig Atokarn@Bezehgombjuderstimme
1Mo
@UltimateValueFighter Soon you'll be able to exchange your used bitcoins for €25,000 per coin 🤡
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UltimateValueFighter@UltimateValueFighter
1Mo
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Stefan21@stefan_21
1Mo
@UltimateValueFighter They include BTC as a reserve asset on the balance sheet. Cohen had met with Saylor a few times in advance and sought advice.
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UltimateValueFighter@UltimateValueFighter
1Mo
@stefan_21 They won't achieve anything with their broken and old business model.
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Stefan21@stefan_21
1Mo
@UltimateValueFighter It depends on how they do it. Look at what happened to Microstrategy and Metaplanet :)
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UltimateValueFighter@UltimateValueFighter
1Mo
@stefan_21 You're right, but I'm curious to see where these companies are headed. Metaplanet is a very dizzy company for me :)
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Stefan21@stefan_21
1Mo
@UltimateValueFighter yes for me too... the company was on the verge of bankruptcy, if I'm not mistaken they only had one old hotel😅
In the meantime, they tried to realign themselves with blockchain and Web3, but that didn't work either.
And now Metaplanet with its BTC strategy was the best performing stock worldwide in 2024😂 already wild😂
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UltimateValueFighter@UltimateValueFighter
1Mo
@stefan_21 completely wild go to their website and have a look at the hotel, it's so fucked up hahah. And Trump's son is there as an advisor. That all sounds like shoring up the place to me ahahahah
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CaYaRo@CaYaRo
1Mo
@stefan_21 get advice? rather be persuaded...
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Stefan21@stefan_21
1Mo
@CaYaRo as you can see. Saylor at least presented him with the Strategy Playbook :) What GME makes of it is up to them.
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SathosiRuffy@SathosiRuffy
1Mo
Are you getting in? 😏
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Stefan21@stefan_21
1Mo
@SathosiRuffy Am thinking of throwing some play money in, yes😂
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SathosiRuffy@SathosiRuffy
1Mo
It's very surprising that the thing hasn't completely exploded now 😅
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Shem_sen@Shem_sen
1Mo
@stefan_21 here we go am in with 600 😇
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Stefan21@stefan_21
1Mo
@SathosiRuffy the purchase has been expected for some time :) I would have expected even more. After all, they raised 1.3 billion by issuing convertible bonds to buy BTC. But I think that's yet to come.
Something will definitely be announced today. They won't announce nothing at 18:30 on the Main Stage :)
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Shem_sen@Shem_sen
1Mo
@stefan_21 why is it falling off like this now 😂
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Stefan21@stefan_21
1Mo
@Shem_sen no idea😂 maybe too many are too leveraged into the market? On the other hand, BTC is also falling a little at the moment. I'm looking forward to the BTC conference tonight. Let's see what else is coming
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Mark777@Mark777
1Mo
@Shem_sen you went in with too little, all in would have been better for the price development
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Shem_sen@Shem_sen
1Mo
@Mark777 🤣🤣🤣600k too little?
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Das Portfoliopferd@Portfoliopferd
1Mo
GameStop
We are closed
Customers from the USA can still store at www.gamestop.com.

GameStop Germany GmbH i.L.
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