GameStop shares fell sharply after fluctuations in Bitcoin prices.

GameStop shares have indeed collapsed by more than 25% this Thursday.
This comes after the controversial video game company announced the issuance of $1.3 billion in convertible bonds to purchase Bitcoin.
The company copied the Strategy guide related to debts against Bitcoin ( commonly known as "infinite money glitch" ).
However, many have criticized this move, with billionaire Clifford Asness recently describing it as a scam. Some GameStop shareholders have also expressed their disappointment with this step, which is evident given the continued decline in the company's stock.
Cape Hirige, the managing partner at Vertical Research Advisory, believes that GameStop should invest at least $2.5 billion in Bitcoin. Hirige predicted that the price of GME shares will eventually rise to $100.
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The shares of the video game company are currently trading at $21.33. During the peak of the GameStop frenzy in early 2021, its share price rose to $81.25.
It is not clear how many Bitcoin tokens GameStop intends to purchase. With a total of 506,000 coins, Strategy is currently the largest holder of Bitcoin by a wide margin. The mining giant Marathon Digital currently ranks second with a total of 46,000 coins.
In a recent post, Strategy mentioned that "MARA may face competition soon," implying that GameStop will replace it with massive purchases of Bitcoin. However, there are also some...
Will Reeves, co-founder and CEO of Fold, claims that the decline in the video game market is not necessarily a bad thing. He said: "Just as it happened in 2021: revolutionaries replaced those who fluctuate game prices. And now, some are selling because the revolution has widened and they haven't grasped it yet.