It has been around two days since GameStop has been gaining on its share prices in the market. It has been observed that the price of the GameStop shares has doubled in the past two days. Following the surge in the price of GameStop shares, different media personalities have started commenting on the growth of the shares.
One of the most prominent profiles from the media groups is Jim Cramer from the CNBC network who has given a piece of advice to the GameStop Company.
Jim Cramer has reportedly advised GameStop to go ahead and change the model of the company. Cramer advised the company to ensure that it changes its company model and adopts one that is friendlier to the cryptocurrency sector.
He stated that from the start of the year 2021, more companies and institutions have started investing in cryptocurrencies. As of now, the majority of the mainstream companies are now investing in cryptocurrencies.
There are companies that are in the process of developing their own virtual assets, some are buying crypto in large batches, and some are mass-mining cryptocurrencies, while some are launching their services in the sector.
Therefore, the company needs to make full use of the cryptocurrency sector and be more inclusive towards the technology.
Jim Cramer shared his views and thoughts around the current situation of GameStop on his show “Mad Money”. He stated that he has a plan for GameStop that can help it justify the prices of its stock.
GameStop has been experiencing a huge surge with respect to its price in the last 24 hours. At the time of publishing, the price of the GameStop share (GME) in the stock market is $131.17. According to the data analyzing firms, the GameStop share (GME) has gained 175% growth with respect to its prices in the last 24 hours.
In order to deal with the current situation and justify the price of its stocks, Cramer gave GameStop two options to choose from. He advised that the platform should either go for a large purchase of cryptocurrencies such as Bitcoin (BTC). He stated that GameStop should do it the same way as Tesla did by purchasing $1.5 billion worth of Bitcoin (BTC).
The second option that Cramer offered GameStop to follow was somewhat similar to PayPal and Square. He suggested that GameStop must go with the option of becoming a dealer in cryptocurrencies. The firm should at least offer customers the major cryptocurrencies such as BTC, ETH, LTC, XRP, and BNB.
He stated that GameStop can change the way its stores work around the world. The company currently has 5,000 stores all over the world and it can turn them into centers for cryptocurrencies where people get the chance to win BTC and other cryptos.