A well-known American entrepreneur and angel financier, Jason Calacanis, is not excited about GameStop’s entry into Bitcoin. He even joked that it would be a great idea if MicroStrategy’s Michael Saylor bought a trillion dollars worth of Bitcoin. Toncoin (TON) Value Forecast for March 26th
James Check, previously a lead analyst at Glassnode, echoes this feeling. He remembered his forecast that struggling companies like GameStop adopting a Bitcoin strategy similar to Saylor’s would indicate a market peak. He thinks that serious companies are not in a hurry to accept Bitcoin, which is not a good signal.
GameStop, famous for its meme coin craze in 2021, announced that it would hold Bitcoin as a reserve asset. While some consider this a positive step for corporate Bitcoin adoption, it has not gained considerable momentum. Michael Saylor of MicroStrategy sees it as a step in the correct direction.
The announcement did give GameStop’s stock a rise in after-hours trading, but it hardly impacted Bitcoin’s price. Calacanis joked, “If you’re a public company struggling to discover a business model, just purchase Bitcoin!”
It is important to note that GameStop has $4.6 billion in cash on its balance sheet and a market capitalization of more than $11 billion.
