They are diluting another $1.5 billion, I dont understand the math. Stock down to $24, what price will RC find non Ape money to absorb the shares?
GME is diluting the shares, but increasing the treasury asset value, as a bitcoiner, this is a very good thing imo, It was surprising that GME decided to do a convertible bond offering instead of using the cash on hand $4.7B It will be interesting how the numbers turn out for the convertible bond tomorrow Will it be 0% interest as well and what would be the conversion price Personally, I would like to see GME buy bitcoin with their cash, but this could be a proof of concept If the convertible bond offering does not generate enough demand maybe shareholders or the board can scrap the bitcoin stuff (long gme at $26/sh)
I don’t understand why someone would pay more for Bitcoin than spot. That’s why it’s $21 heading to $19? The cult(Apes) that own(Bought for MOASS)are furious they got screwed again. I hope you nail it!
It's the same playbook as MSTR, MetaPlanet, SMLR... I want to own shares in a company that can utilize zero or near zero interest rate debt to buy bitcoin as I cannot do it myself Also I want to own shares in a company that can issue shares to buy bitcoin, paying for bitcoin with shares that it can create, similar to global central banks that have the ability to print fiat monies I also want to own shares in a company that can possibly use other financial instruments such as issuing preferred shares to buy bitcoin None of these things I can do myself as a retail investor to buy bitcoin Buying bitcoin and owning the private key is a different use-case than owning shares of bitcoin-related stocks Ultimately, the goal for these bitcoin treasury companies is to own as much bitcoin before $1M/btc within 5 years, it could mean mstr will be the biggest company by market cap or close to it, and gme could be above $1T market cap within 5 years
Last Wed - GME up because of bitcoin news Last Thu - GME down because of bitcoin news Only @Roaringkitty can save @Pekelo
The GME Apes sent Cohen emails, DMs and letters begging him to do it for years(BTC was $21k-30k. Sadly they’re the ones getting diluted again. Why doesn’t Adam Aron do the same(AMC/Crypto Trust.)? GME now has a ceiling now with the $1.3 billion offering($29.70).
From what little I know, didn't Cohen pump up the price only to bail out with the money and leave his devotees as bag holders? Anyway, I ain't sure acquiring BTC alone will somehow stop GME from sinking. Everyone seems to forget this is a sinking ship.
I think it is a good idea for a dying company like GME to use the MSTR strategy. They should go a step further and recruit traders to trade cryptocurrencies to enhance their gains even more or employ the MSTY strategy of vol dividends. They could convert their stores into trading rooms.