GameStop’s $512M Bitcoin Bet Backfires as Shares Keep Tumbling
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Wall Street’s favorite meme stock just doubled down on crypto—and investors aren’t applauding. GameStop’s half-billion dollar Bitcoin purchase coincides with yet another nosedive in share price, proving once again that corporate crypto plays make for great theater but questionable strategy.
When traditional finance meets digital assets, somebody usually gets burned. This time it’s retail traders left holding the bag as institutions play with house money. The irony? A company that became famous for sticking it to hedge funds now mirrors their riskiest bets.
Memo to C-suites: maybe solve your core business problems before chasing the blockchain hype cycle. Just a thought.
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