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Strategy’s Michael Saylor Challenges GameStop to ‘Go Big’ on Bitcoin
In a surprising move, Strategy’s corporate Bitcoin holdings have surpassed 500,000 coins, sparking concerns about the company’s relentless buying spree potentially centralizing the cryptocurrency and making it less appealing to other investors.
Meanwhile, GameStop has announced that Bitcoin will be part of its treasury reserves, sending its shares soaring by over 14% in response. However, some critics are questioning whether this involvement with the meme-stock phenomenon would ultimately benefit the flagship cryptocurrency.
In a related development, Strategy’s Michael Saylor has challenged GameStop to “go big” on Bitcoin, suggesting that the video game retailer should invest more significantly in the digital currency.
The move is seen as a bold attempt by GameStop to revamp its struggling business and regain investor confidence. Some experts believe that this strategy might not necessarily be successful.
In any case, it remains unclear how this shift will impact the cryptocurrency market overall.
Source: https://u.today/strategys-saylor-challenges-gamestop-to-go-big-on-bitcoin
