Anthony Scaramucci of SkyBridge Capital said on Wednesday that the rise in shares led by retail investors for the video game company GameStop suggests that bitcoin will turn out to be a success.
On Tuesday, a volatile trading session driven largely by a campaign by Reddit r / WallStreetBets forum members saw GameStop (NYSE: GME) jump 92.7%. Stock trading stopped several times last week as price spikes triggered market protections.
After Elon Musk joined the fray, tweeting “GameStonks”, the shares rose 50%. The stock of video games is now worth $ 10 billion and classified as a large-cap stock, according to Bloomberg.
Scaramucci said in an interview with Bloomberg that this strong action by the individual trader market is “a proof of concept that Bitcoin will work” and should be taken “seriously”.
He suggested that investor’s “decentralized” activity is similar to the fundamental concept behind bitcoin, while low-cost mobile commerce is “democratizing” previously isolated markets.
“How are you going to beat this decentralized crowd? This to me is more of a statement about decentralized finance, ”said Scaramucci.