Benzinga - by Khyathi Dalal, Benzinga Staff Writer.
Bitcoin (CRYPTO: BTC) influencer Max Keiser suggested a strategy for GameStop (NYSE:GME) that would, in his opinion, push the stock price to $1,000.
What Happened: Keiser proposed that if GameStop were to implement a ‘Saylor’ Bitcoin treasury strategy, the company’s stock could potentially reach $1,000. He further suggested that GME could become the "pleb version" of MicroStrategy Inc.
Keiser’s ‘Saylor' reference is a nod to Michael Saylor, executive chairman of MicroStrategy, who is known for his company’s significant Bitcoin investments. Keiser argued that the higher the stock goes, the more secondaries of stock could be issued, leading to more capital to buy Bitcoin.
Keiser also stated, "Bitcoin is mathematically guaranteed to outperform everything. Everything is mathematically guaranteed to go to zero against Bitcoin."
Scott Melkder in response to the tweet stated, "This would objectively be a brilliant move for GameStop."
Also Read: Roaring Kitty Says He’s Invested In GameStop’s Transformation, Bets On CEO Ryan Cohen With YOLO Trade: ‘If I Have A Feeling, I Act On It’
Why It Matters: MicroStrategy announced plans to issue $500 million in convertible senior notes due in 2032 to acquire more Bitcoin and fund other corporate activities.
Keiser’s comments come at a time when more companies are considering Bitcoin as a potential investment. His suggestion that GameStop adopt a similar strategy to MicroStrategy indicates a belief in the potential for significant financial gains.
This also highlights the ongoing debate about the role of Bitcoin in corporate treasury strategies. While some see it as a hedge against inflation and a way to diversify assets, others view it as a risky and speculative investment.
During the week, The Bitcoin Therapist stated that GameStop could start the biggest adoption story of the year by raising more than $5 billion by issuing shares and converting this capital into Bitcoin at $70,000 per BTC.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next: GameStop Could Start ‘Biggest Bitcoin Adoption Story Of The Year’ With This Move, Trader Suggests
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.