GameStop's Bitcoin Strategy Gets Jim Cramer's Nod
Market commentator Jim Cramer expressed his approval of GameStop's newly announced Bitcoin treasury strategy on Tuesday. He took to Twitter to share his views on the video game retailer's decision to amend its investment policies and add Bitcoin to its reserves.
Cramer, host of CNBC's popular Mad Money show, has previously advocated for including Bitcoin in investment portfolios. He has endorsed the cryptocurrency as a safeguard against government overspending and increasing national debt. However, his picks often move in the opposite direction, leading some to perceive him as an inverse indicator.
GameStop CEO Ryan Cohen responded to Cramer's remark with a laughing emoji, acknowledging the humorous aspect of the situation.
As of this writing, Bitcoin has barely moved since Cramer's post. It is currently trading at $87,325.25, up 0.48% in the last 24 hours.