Jim Cramer reveals that he has come with a better plan which can be implemented for saving Gamestop through Bitcoin. He thinks that Gamestop should immediately launch a fundraising campaign in an effort to use that money for purchasing Bitcoins. After acquiring Bitcoins, Gamestop must turn its global establishments into stores for the legendary coin, Bitcoin.
A host of investors’ favorite tv program called Mad Money has revealed to incorporate a workable plan for saving Gamestop.
Jim Cramer, a veteran trader, economist and expert etc. has been hosting Mad Money for quite a long time now. He is not only popular amongst locals but also amongst globally prominent investors and the business community.
Last month, when a lotto-player won the US’s biggest jackpot, he advised the winner to invest a portion of the money into Bitcoin. According to Cramer, Bitcoin is a favorable hedge against inflation and an unprecedented financial crisis.
The host was recently invited as a guest at CNBC for an interview. During the interview, Cramer revealed that since the Gamestop incident had occurred, he hasn’t been able to forget it. In fact, the incident continues to disturb him on daily basis, said Cramer. He stated that now he has finally come up with a doable plan which he thinks is the last hope for Gamestop.
Gamestop incident occurred a few days back in which day traders came against hedgers of Wall Street. The win went into the favor of day traders while the hedgers’ careers were doomed.
After the incident, Gamestop also saw a 100% increase in the value of its tradable stocks past week. But the company’s Chief Financial Officer has been required to submit his resignation.
As regards his plan, Cramer revealed that what Gamestop needs to do immediately is to become a crypto-dealer officially. He advised the company that the same thing was done by notable companies including PayPal and Square Inc.
He suggested further that the popular gaming graphic card developer coming, Nvidia, is also going to join the crypto world. The company has announced of launching its specific purpose-built graphic cards for blockchain and digital currencies. He advised that such out-of-the-box ideas, however, may not work well for Nvidia but they could be rewarding to Gamestop.
He said that as per his plan, there are at least 5,000 store establishments under Gamespot which it could turn into crypto centers. All that is required from Gamespot is to then launch a fundraising campaign and collect money. At the end of the campaign, the money can then be used for purchasing Bitcoins. After that Gamestop would need to publicize internationally that players of their games will be offered Bitcoins. Resultantly, the price of Gamestop’s shares would be increased instantaneously.
According to Cramer, it doesn’t have to be Bitcoin only, and instead, Gamestop can purchase other major digital coins as well. In the end he stated that he has a strong feeling that his idea is doable and beneficial if implemented in letter and spirit.