VanEck advisor Gabor Gurbacs expresses dismay with GameStop meme stock’s recent 40% price gain, citing the Bitcoin ecosystem as better than TradFi.
Gabor Gurbacs, an advisor at VanEck, recently released a post on X in which he criticizes the TradFi (Traditional Finance) system in response to the recent chatter surrounding GameStop meme stock on Wall Street.
In his June 3 post, Gurbacs criticized the system and praised the Bitcoin ecosystem better.
Despite the SEC’s increased regulation of digital assets, this statement has generated a significant amount of discussion within the global crypto community.
Additionally, meme stocks are gaining popularity in conjunction with similar characteristics.
VanEck Advisor Opposes GameStop Stock Restart
Gurbacs’ post emphasizes the revival of GameStop meme stock, which surged over 40% on ‘The Roaring Kitty’s’ aka Keith Gill’s announcement of a live stream on YouTube on Friday.
Berkshire Hathaway (NYSE: BRK.B) fell 99% in the same week, which the VanEck advisor said to be, “invalidating any criticism regulators will ever have against Bitcoin.”
Gurbacs asserts, “The TradFi system is way worse than Bitcoin exchanges and the ecosystem at large.”
His statements emphasize a sense of disappointment at the SEC’s nationwide scrutiny of cryptocurrency, while TradFi is associated with the same characteristics.
Meanwhile, the GME stock price experienced a 47.45% increase to $46.55 at press time, as indicated by Nasdaq data.
The meme-based investment product has further reflected a mania on Wall Street as Roaring Kitty introduces an additional $586 million in stock and options positions.
This has greatly contributed to the recent extraordinary price increase in the GME stock.
Crypto Ecosystem Better Than TradFi?
Meanwhile, it’s worth noting that, while GameStop’s GME meme stock has risen nearly 47%, the Solana-based meme coin GME, a crypto inspired by GameStop but unrelated to it, has risen more than 150% amid the continuous hype.
Despite offering investors the same price volatility, the meme coin has experienced a substantial increase in value compared to the meme stock.
However, the conflict between DeFi and TradFi enthusiasts persists, as prominent figures continue to express their viewpoints.
