Strategy CEO Michael Saylor has posted a new poll on the X social media network to find out how many Bitcoins video game retailer GameStop has to buy in order to earn the community's respect.
Almost half of the poll responders (48.4%) believe that GameStop would need to make a king-sized move to be taken seriously by the community. This implies a purchase of more than $3 billion worth of Bitcoin.
Nearly a third of the participants (28.7%) would be content with a Tesla-sized Bitcoin buy of $1 billion.
Roughly 17% of them would be content with Strategy's "starter kit" of $250 million.
A purchase of $50 million would be considered "just LARPing," according to Saylor.
Arman ShirinyanIt is worth pointing out that GameStop had close to $5 billion worth of cash and cash equivalents as of Q4.
As reported by U.Today, the struggling video game retailer, which is mainly associated with the wild meme stock mania of early 2021, announced that Bitcoin would be part of its treasury reserves on Tuesday.
GameStop shares have rallied more than 14% in response to the announcement.
Alex DovbnyaHowever, some detractors have opined that the move reeks of desperation. Some have also questioned whether the involvement of the meme-stock phenomenon would be beneficial for the flagship cryptocurrency.
So far, very few companies have jumped on the corporate Bitcoin adoption bandwagon, with Microsoft shareholders recently overwhelmingly rejecting a proposal to invest in Bitcoin.
Meanwhile, Strategy's corporate Bitcoin holdings have now topped 500,000 coins, but some critics say that the company's relentless buying spree could make the cryptocurrency more centralized and less appealing to other investors.
Vladislav Sopov
Dan Burgin