Bitcoin maximalist Samson Mow recently made waves on social media with his bold prediction regarding the potential impact of GameStop adding Bitcoin to its corporate treasury. Mow, who is the CEO of Jan3, a Bitcoin adoption-focused company, suggested that this move could lead to what he referred to as “Godzilla candles” for both Bitcoin and GameStop.
According to Mow, if GameStop were to integrate Bitcoin into its financial strategy, it would create a “double bullish thesis” that could result in significant price movements for both assets. This idea was further supported by statements made by US financier Anthony Scaramucci, who also advocated for GameStop to invest in Bitcoin.
GameStop, which gained widespread attention in 2021 due to a short squeeze that triggered a significant rally in its stock price, has faced challenges in recent times. The company’s decision to disclose its financial results and issue additional shares led to a sharp decline of almost 40% in its stock price.
Keith Gill, also known as “Roaring Kitty” on social media platforms like X and YouTube, had previously made headlines for his substantial investment in GameStop. However, despite his plans to share news of his newfound billionaire status, the stock price took a downturn, resulting in a failure to realize his anticipated gains.
While the idea of GameStop embracing Bitcoin has sparked excitement among some investors and analysts, the reality of the market’s volatility and unpredictable nature cannot be ignored. Whether this proposed integration will indeed lead to the envisioned “Godzilla candles” for both Bitcoin and GameStop remains to be seen. As the financial landscape continues to evolve, it is essential for investors to approach such speculative scenarios with caution and a critical eye.