Todays Top Stories

Editor: @PhoenixxDown

A Fusion of Rebellions

GameStop holders, the notoriously unhinged retail investors who turned a struggling video game retailer into a financial revolution, have found a new hill to die on. Our hill. Bitcoin.

Yesterday, GameStop’s board unanimously approved adding Bitcoin to its treasury reserve. This decision coincided with the company’s biggest quarterly earnings increase in history, up 275%, shattering the previous record of 35% in March 2023.

While GameStop hasn’t disclosed how much BTC it plans to buy, with $4.77 billion in cash reserves, even a small allocation could impact Bitcoin’s price and inspire other companies to follow suit.

A Beautiful Marriage of Anarchy

Bitcoin’s ethos aligns perfectly with both GameStop and its die-hard investor base, the Apes. These are the same people who, in 2021, took on Wall Street’s hedge funds, exposing the cracks in traditional finance through sheer collective willpower (and a lot of memes).

Their philosophy was, and still is, to stick it to the suits. Reject centralized control. Bet on the underdog.

Sound familiar?

Bitcoin, operating outside the grasp of banks, hedge funds, and regulators, is exactly the kind of asset that GameStop Apes either already hold, or are about to realize they should.

How GameStop Led Me to Bitcoin

During the height of the GME mania, I bought in, right at the top it should be noted. I had barely touched stocks before, and at the time, I was only four months into my Bitcoin journey. Then, when exchanges started halting GME purchases, I was confused.

Given that GME buying was driven by speculation that there were more Stocks available than was possible, this began to feel like an intentional abuse of power. That confusion quickly turned to incandescent rage when I saw selling was still allowed, which was precisely what those on the other side of the bet needed.

As my entry price got nuked with no way out, I had a realization: the game was rigged. The same suits who preach about "protecting retail investors" had manipulated the market in real time, in broad daylight, all to protect their own interests.

Since then, I’ve never touched stocks again, something I am told is short-sighted by friends who are stock enjoyers, but why would I engage in a system where the referee is also the opponent? No thanks.

And so, despite Crypto’s own issues with market manipulation, which are rife to put it mildly, I quickly concluded 24/7 markets and decentalized trading is the only game worth playing.

The shenanigans of the suits made me double down on Bitcoin. Thanks for that, I guess!

So, there’s no doubt that a lot of GameStop holders are already into Bitcoin. But for those who aren’t, or for those who got burned on it like myself, swore off trading altogether, and moved on, this shift might change things. If GameStop stacking Bitcoin makes them take a second look, they’ll quickly realize BTC is the purest vehicle for the financial revolution they wanted all along.

And with governments, banks, and financial elites continuing to push back against Bitcoin, there is a lot of lols to be had waiting for them.

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Todays Markets

Ordinals

A correction from yesterday’s issue: Taproot Wizards, as you can see, are not available for trading today and won’t be until Friday when assets are distributed to wallets. The mint phase ended with 1,660 of the available 1,750 Wizards sold, raising an estimated $21 million (yes, an interesting synchronicity!).

Next up is a public Dutch auction for the remaining Wizards, set for tomorrow at 11 AM EST. Let’s hope this one plays out better for bidders than the infamous TwelveFold saga. “Still bitter?” A bit, does it show?

Elsewhere, Quantum Cats have fallen below their 0.1 BTC mint price for the first time. Entangled Cats will be released back to their owners "a few days after mint," which likely means around the same time Wizards are sent out on Friday.

That’s when we’ll see how price action reacts, though it’s safe to assume that many holders are hardcore believers who won’t be eager to undercut the floor into oblivion.

Room 44 is up 75% today, with only three of the total supply of 110 listed. Based Angels takes a small hit, dipping back down to 0.005, and over at RSIC HQ, the silence is deafening as even some of its most loyal supporters begin to capitulate. God speed.

Runes (Bitcoin Memecoins)

$MIM is up 8% today, but the so-called "Wizard pump" that some expected has failed to materialize, leaving it still lingering below a $30 million market cap. $PUPS, however, is up 14% and is now within striking distance of flipping it.

That Rune sitting in 5th place, $BTG, has a $110 million market cap with just six holders; obviously not something to be buying here at all.

From what’s been gathered so far, the account SatoshiGold claims they are merging Bitcoin Gold back onto Bitcoin itself. Whether they actually have the authority to do so remains entirely unknown, as there has been no widespread mention of it.

Either way, a market cap that size with that few holders is all you need to know for now.

OdinFun Runes have now become fully-fledged Runes in the sense that they’re stuck where they are, waiting for further developments. We’re getting the full experience now!

Jokes aside, nothing new again here. It’s just another reminder to scoop up what you believe in while attention is elsewhere, if you believe in Bob and the platform. We do! (NFA)

Todays Opportunities

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