Options Market Statistics: GameStop's Shift to Crypto Sparks Stock Surge
$GameStop(GME)$
GameStop's board has decided to invest in Bitcoin as part of its financial strategy. This means the company will hold Bitcoin as a reserve asset, similar to what other businesses have done.
GameStop is following a trend started by Michael Saylor, whose company bought over $40 billion worth of Bitcoin, leading to a massive stock price increase.
Last month, GameStop's CEO Ryan Cohen hinted at this move by posting a photo with Saylor on social media. The company hasn't set a limit on how much Bitcoin it will buy and says it may sell its Bitcoin anytime, according to its SEC filing.
There was a noteworthy activity in $GameStop(GME)$
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