Matt Cole, CEO of Strive Asset Management, an investment firm co -founded by Vivek Ramaswamy, has urged Gamestop to adopt Bitcoin as a reserve asset.
Cole sent a letter to Ryan Cohen, president and CEO of Gamestop (GME), on February 24.
“We believe that Gamestop has an incredible opportunity to transform its financial future by becoming the main Bitcoin Treasury company in the Games sector.”
According to the letter, Stive clients have Gamestop actions through the funds (ETF) quoted in the exchange of asset management, which gives the company “a fiduciary responsibility and an acquired interest” in the success of Gamestop . Cole said his company has GME stocks in different ETFs without revealing the amount.
The letter occurs after reports arose earlier this month on Gamestop, considering investing in alternative investments, including bitcoin and cryptocurrencies.
In the last two years, Gamestop has reduced its operational losses and has managed to compensate for these deficits through the interest income of cash holdings generated from capital offers, according to the letter. These initiatives have stabilized the general balance of GME and have placed the company for “dynamic strategic movements,” adds the letter.
Cole argues that Bitcoin will be the new “obstacle rate” for capital deployment. The letter also argues that cash is a real negative performance; Bitcoin is considered an inflation coverage in terms of monetary degradation overcoming. Strive CEO suggests that Gamestop must focus on bitcoin and avoid other cryptocurrencies, while taking advantage of capital markets to issue offers in the market (ATM) and convertible debt titles.
The suggestion of the letter reflects what several other companies, including Microstrategy, Semler Scientific and Mara Holdings, are already being deployed. Most of the largest capitalization that Bitcoin has bought in the open market have not only seen their concentration of shares of shares, but also opened new roads for capital increases.
The letter ends with Cole applauding Gamestop for closing non -profitable stores and publicly rejecting programs for diversity, equity and inclusion (DEI).
Cole says: “We applaud the leadership that your company has already taken to close many non -profitable stores and publicly reject Dei.”
