Raise $1bn to Buy Bitcoin, Jim Cramer Tells GameStock (GME) Board

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Just as the GameStop Corp. (NYSE: GME) shares exploded higher in the final hours of trading on Wednesday, Jim Cramer advised the videogame retailer’s board to buy Bitcoin to increase its stock prices further. “One last time GME,” tweeted the CNBC’s Mad Money host. “Issue one billion dollars in stock, buy one billion in bitcoin, and watch your stock go to $430.” The statement appeared as other firms on Wall Street opted to replace a portion of their cash reserves with the benchmark cryptocurrency. On Wednesday, Nasdaq-listed MicroStrategy revealed that it purchased $1.06 billion worth of additional bitcoins atop its 70,000-plus BTC reserves. Meanwhile, payment company Square also announced that it had added $900 million to its $50 million BTC profile on the same day. Bitcoin rose from $3,858 to over $58,000 on booming institutional adoption against a depreciating US dollar. Source: BTCUSD on TradingView.com Tesla, a Fortune 500 company,…

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