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Anthony Scaramucci, of SkyBridge Capital, said on Wednesday that surges in retail investor-led stocks for video game company GameStop suggest bitcoin will ultimately be successful.
A volatile trading session largely driven by a campaign by members of the Reddit forum r / WallStreetBets on Tuesday saw GameStop (NYSE: GME) jump 92.7%. Trading in the stock has been halted several times over the past week as price spikes triggered market protections.
After Elon Musk joins the fray, Tweeter “GameStonks” shares rose 50%. Video game stock is now worth $ 10 billion and is classified as a large-cap stock, according to Bloomberg.
Scaramucci said in an interview with Bloomberg that this strong individual trader market action is “proof of concept that Bitcoin is going to work” and should be taken “seriously”.
He suggested that the activity of “decentralized” investors is similar to the fundamental concept of bitcoin, while mobile and low-cost trading “democratizes” formerly island markets.
“How are you going to beat this decentralized crowd?” This to me is more of a statement about decentralized finance, ”said Scaramucci.
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