GameStop-Themed Cryptos Soar After Vivek Ramaswamy Co-Founded Firm's CEO Urges Bitcoin Investment: Graduate From Being 'Meme Stock' To Sector Leader

Core Viewpoint - An investor recommendation for GameStop Corp. to adopt Bitcoin as a Treasury reserve asset has led to significant surges in cryptocurrencies associated with the company, indicating a potential shift in investor sentiment and market dynamics [1][2][3]. Group 1: Cryptocurrency Surge - GameStop Coin, based on the BNB Chain, experienced a dramatic increase of 363% in the last 24 hours, reaching a market capitalization of $3.15 million [1][2]. - Ethereum-based GameStop also saw an increase of over 8$5 billion cash reserves to invest in Bitcoin, suggesting this could transform GameStop from a meme stock to a market leader [3][4]. - The CEO of Strive, Matt Cole, has communicated this proposal to GameStop's CEO, Ryan Cohen, who has acknowledged the letter [3][4]. Group 3: Market Context - The speculation around GameStop's potential Bitcoin investments has intensified following a social media post by Cohen with Michael Saylor, co-founder of a Bitcoin Treasury company [5]. - GameStop has gained popularity as a retail stock, particularly during the 2021 meme stock phenomenon, which has continued to influence its price movements [5]. Group 4: Stock Performance - GameStop shares saw a slight increase of 0.16% in after-hours trading, following a regular session close that was 2.32% lower at $24.42 [6].