Bitcoin maximalist, Samson Mow, has made waves on social media with his latest prediction regarding the cryptocurrency market. Mow, who serves as the CEO of Jan3, an organization focused on Bitcoin adoption, took to Twitter to propose a new bullish case for Bitcoin that he believes could lead to what he calls “Godzilla candles” immediately.
Mow’s suggestion revolves around the popular video game retail sales company, GameStop. Known for its infamous short squeeze in 2021, GameStop caught the attention of both retail investors and Wall Street. Mow believes that if GameStop were to add Bitcoin to its corporate treasury, it would create a “double bullish thesis” that could result in significant gains for both Bitcoin and GameStop shares.
Mow’s proposal is reminiscent of a recent tweet by prominent US financier, Anthony Scaramucci, who also endorsed the idea of GameStop investing in Bitcoin. This convergence of opinions from two influential figures underscores the growing importance of Bitcoin in mainstream finance and corporate strategy.
Despite the excitement surrounding GameStop’s potential foray into the cryptocurrency market, the company recently faced a setback. Following the release of its financial results and announcement of a new share issuance plan, GameStop’s stock price plummeted by almost 40%. This downturn came on the heels of a significant surge in stock price, highlighting the volatility of the market.
Keith Gill, better known as “Roaring Kitty” on social media platforms like X and YouTube, had been closely associated with GameStop’s meteoric rise in 2021. In a recent live stream on YouTube, Gill had hinted at becoming a billionaire thanks to his bets on GameStop. However, the subsequent drop in stock price dashed his hopes of reaching that milestone, serving as a cautionary tale for investors in the high-stakes world of trading.
Samson Mow’s bold prediction regarding GameStop and Bitcoin showcases the intersection of traditional finance and the burgeoning cryptocurrency market. While the idea of GameStop embracing Bitcoin as part of its corporate strategy holds promise, recent market developments serve as a reminder of the unpredictability inherent in the world of investing. Only time will tell whether Mow’s vision of Godzilla candles will come to fruition or if it will remain a speculative fantasy in the realm of digital assets.