This week, turbulent trading mostly driven by members of a Reddit forum called r/WallStreetBets pushed GameStop (NYSE: GME) upwards 92.7%. This even led to trading of the company being stopped multiple times in the past week as its price spikes attracted market protection mechanisms.
After Tesla CEO Elon Musk jumped in, tweeting “GameStonks,” the stock increased 50%. The gaming company’s stock is now valued at $10 billion and classified as large-cap.
Scaramucci calimed during his interview with Bloomberg that this individual trader action is “proof that Bitcoin will work,” and should be taken “seriously.”
He suggested this “decentralized” movement is just like the underlying concept of bitcoin, while mobile-based and cheap trading are transforming formerly isolated markets.
“How will you be beat that decentralized flood? That in my mind is more proof that decentralized finance is the future,” Scaramucci stated.
Earlier this year, SkyBridge announced a new bitcoin fund, claiming its investment in bitcoin had already reached $310 million.