Jim Cramer wants to turn GameStop branches into „introductory shops“ for Bitcoin

The moderator of Mad Money wants to convert the video game dealer into a „crypto information center“ for gamers.

After the share price of the video game retailer GameStop has more than doubled again in the last two days, the TV presenter and financial expert Jim Cramer suggests that the company should increasingly rely on cryptocurrencies in the future

Cramer made the corresponding proposal on February 25th on CNBC’s Squawk Box program. With this step, GameStop could adjust the actual goodwill to the inflated market value. The stock (GME) is currently trading at a price of $ 131.17, a whopping 175% gain in the past 24 hours after moving mostly sideways for the past few weeks. The financial expert advises that GameStop should not only do the same for Tesla, the innovative automaker recently had $ 1.5 billion in Bitcoin System, but that the video game retailer should rather follow the example of Square and PayPal by also doing so becomes a bitcoin trader.

“If GameStop were to become a shop for cryptocurrencies where you can gamble and win Bitcoin, then that would justify the current share price,” said Cramer

The moderator of the program “Mad Money” adds in this context that all 3,447 GameStop branches should become “crypto information centers” where gamers can buy and sell crypto currencies or receive them as victory rewards for gambling. Ryan Cohen, GameStop’s largest investor, would have enough power to convince the company’s board of directors of this plan to generate $ 1-2 billion to buy BTC through the sale of company shares.

It is usually uncommon for investors to propose a change in business model to their company in order to bring goodwill into line with stock value. However, GameStop is no longer just a classic retailer.

The company hit the headlines last month after retail investors agreed to collaboratively buy GME stock on the social network to land a blow at hedge funds looking to make a profit by hitting the GameStop stock. In fact, the small investors were able to cause massive losses for the big boys, which ultimately led to the trading platform Robinhood temporarily suspending trading in the stock. An apparent kowtowing before high finance, which caused a stir in the media, and consequently also in politics .

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