The executive vindicates small investors and their organization. What happened symbolizes a clash between Wall Street and Reddit forum members.
GameStop is the main discussion on Wall Street since its shares gained in the stock market. Reddit forum hosters’ coordinated investments in the video game chain ignite the debate about its execution, the loss or gain of millions of dollars, and even Bitcoin (BTC).
The impact of what just happened to the first cryptocurrency led to an analysis by the billionaire Anthony Scaramucci, founder of the investment firm SkyBridge Capital. For the former director of communications of the White House, the situation shows the relevance of the decentralization of BTC and the role that small investors play today.
For the executive, the democratization of investment management goes through low-cost trading and smartphones. In his view, he refers to the Wall Street power groups as money management that used to be very “concentrated.”
The wheel now seems to be turning in favor of a market that focuses more on the micro-investments; Scaramucci claims that: “You better take it seriously because if you don’t, they will ruin you,” said the investor.”
This situation could symbolize the clash between large investment funds and small investors who, by coming together, would be matching forces to disburse capital on a similar scale. The result? GameStop shares are the most significant trades on January 26, with a volume of 20 billion dollars.
Bitcoin is and Will Always be a Reference for Investors
Scaramucci talks about the case of Bitcoin as an example since it is a distributed and decentralized system that does not depend on a single authority. As it is a collaborative platform, the saying “in unity is strength” would stand out. A collaborative platform will always win the trust of users; life on the internet works that way.
Bitcoin relies on a collective reign in which everyone must follow the guidelines to make the system work how it supposes to do. That is the network’s computing power that depends on thousands of participants who form a team and give life and shape to the network.
This principle makes its appearance in the organization of Reddit forum members who made investment funds totter. Some lost billions of dollars “gambling” on the downfall of companies like GameStop.
Scaramucci’s position is not just an opinion about how investments and Bitcoin are working in parallel today. He sees the cryptocurrency as a digital system for the transfer of value. His company has already invested more than $ 60 million in BTC through the SkyBridge Bitcoin Fund LP.
In December last year, the fund was announced with an initial investment of $ 25 million by SkyBridge Capital. A month ago, the billionaire highlighted that one of his purposes is to “democratize the hedge fund industry.”
By: Jenson Nuñez
