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VRA Letter: GameStop Announces First Bitcoin Purchase. VRA Market Update; Still in Melt-up Mode. Latest from Rich Ross.

Good Wednesday morning. Brief Letter this morning. 1) GameStop announced their first purchase of bitcoin this AM, with a $512 million buy of 4710 BTC. This amount is just 1/3 of the recent note offering, leaving $1 billion to bu ...

Posted On May 28, 20254 MIN Read
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Good Wednesday morning. Brief Letter this morning.

1) GameStop announced their first purchase of bitcoin this AM, with a $512 million buy of 4710 BTC. This amount is just 1/3 of the recent note offering, leaving $1 billion to buy BTC (and a total of $5.8 billion in cash). We’ll be surprised if they don’t announce a further purchase of BTC into the 6/12 earnings report.

Shares are up 3% as I write. In our research of MSTR BTC purchases we found that after each large BTC purchase the shares continued to rise (but on high volatility). With GME trading at EOBOS (extreme OB on steroids) on the VRA System we would not add to positions at this time (we will be selling some of our GME calls in Parabolic Options…look for that alert soon).

With GME trading at $36 we have gains of 39%. Had Ryan Cohen acted to buy BTC sooner…as many of us encouraged over the last year…GME would be trading well over $100 today. And yes, we still expect that to happen. GME is morphing into something altoget...

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