The Wolf Of All Streets GME Drops $1.3B on BTC! Why Is Crypto Ignoring It? | Crypto Town Hall
Mar 27, 2025
GameStop's surprising investment in Bitcoin sparks a debate on its impact in the crypto world. The discussion highlights the shift from traditional gaming to financial strategies. It dives into evolving crypto cycles, stressing the importance of adoption over speculation. The interplay of corporate influence on Bitcoin pricing and liquidity is examined. Additionally, the conversation delves into the complexities of convertible bonds, contrasting GameStop and MicroStrategy's approaches. Finally, market dynamics and the lack of substance in meme-driven investments are critically analyzed.
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Hunt Brothers' Silver Corner
- In the late 1970s, the Hunt brothers attempted to corner the silver market, primarily through futures contracts.
- This manipulation ultimately failed due to rule changes and the market's opaque nature.
Bitcoin vs. Silver Manipulation
- Dave Portnoy argues that the Hunt brothers' silver corner attempt highlights Bitcoin's strengths.
- Unlike silver's illiquid and opaque spot market, Bitcoin's transparent on-chain activity makes manipulation difficult.
Altcoin Rollover
- Altcoins, or "alts," have significantly declined, with Ethereum down 50% from its all-time high.
- This downturn differs from previous cycles, which were driven by ICOs and NFTs, and raises concerns about Ethereum losing its leading edge.