The VanEck advisor lashed out at the TradFi system. However, he praised the leading cryptocurrency Bitcoin. The advisor’s remarks were prompted by GameStop’s recent revival. Meanwhile, Semler Scientific bought another $17 million worth of Bitcoin.
VanEck Advisor: This cryptocurrency is better than TradFi!
VanEck advisor Gabor Gurbacs reacted to the buzz that GameStop meme stocks have recently created on Wall Street. In his latest article, Gurbacs criticized the TradFi (Traditional Finance) system. Furthermore, Gurbacs hailed the Bitcoin ecosystem as better. This statement seems to have created a wave of controversy in the global crypto community at a time when the SEC is tightening its control over digital assets, while meme stocks are gaining popularity for similar characteristics.
In his article, Gurbacs highlights how GameStop meme stocks have come to life. Meanwhile, as Kriptokoin.com reported, Keith Gill, nicknamed ‘The Roaring Kitty’, announced that he will broadcast live on YouTube on Friday. Following this, GME shares rose over 40%. Gurbacs is also reacting to this situation. In contrast, Berkshire Hathaway (NYSE: BRK.B) fell 99% in the same week. The VanEck advisor claims that this “invalidates regulators’ criticism of Bitcoin”.
Gabor Gurbacs criticizes the SEC’s stance!
“The TradFi system is in much worse shape than Bitcoin exchanges and the ecosystem in general,” Gurbacs adds. Gurbacs’ remarks underscore his dismay at the SEC’s nationwide scrutiny of cryptocurrency while TradFi walks hand in hand with the same features.
Meanwhile, the GME share price was up 47.45% to $46.55 at press time, according to Nasdaq data. The meme-based investment product created an even bigger frenzy on Wall Street as Roaring Kitty brought in an additional $586 million worth of stocks and options positions. This has contributed to the phenomenal price surge that GME shares have witnessed recently.
Is the cryptocurrency ecosystem better than TradFi?
Meanwhile, GameStop GME meme stock surged by nearly 47%. On the flip side, it’s also worth noting that the Solana-based meme coin GME, a crypto inspired by GameStop but unrelated to it, surged over 150% amid the ongoing buzz. Despite offering investors the same price volatility, the meme coin has gained significantly more than the meme stock. However, the battle between DeFi and TradFi enthusiasts continues.
Medical Device Manufacturer Buys Another $17 Million in Bitcoin!
Semler Scientific has expanded its corporate strategy to include buying Bitcoin (BTC). Publicly traded Semler Scientific, a healthcare business, announced the purchase of another $17 million worth of BTC. It also said it is preparing to raise $150 million to buy even more. Doug Murphy-Chutorian, chief executive officer of Semler Scientific, made the following statement:
Semler continues to focus on expanding our healthcare business and our Bitcoin acquisition and retention strategies. The company currently holds 828 Bitcoins, underscoring our view that Bitcoin is an attractive investment and can serve as a reliable store of value. We will continue to pursue our strategy of buying Bitcoin with cash.
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