VanEck advisor Gabor Gurbacs expresses dismay at GameStop meme stock‘s 40% price rally, stating the Bitcoin ecosystem is superior to TradFi.
Gabor Gurbacs, an advisor at VanEck, has recently published 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. The system was deemed worse by Gurbacs, who praised the Bitcoin ecosystem in his post dated June 3.
Despite the SEC’s increased regulation of digital assets, this statement has generated significant discussion within the global crypto community. Additionally, meme stocks are gaining popularity in conjunction with similar characteristics.
Gurbacs Challenges GameStop Stock Restart
Gurbacs emphasizes in his post that GameStop meme stock experienced a significant increase of over 40% in response to Keith Gill, also known as “The Roaring Kitty,” who informed the public of a live stream on YouTube scheduled for Friday. In contrast, Berkshire Hathaway (NYSE: BRK.B) experienced a 99% decline during the same week, which the VanEck advisor asserts “contradicts any criticism regulators will ever have against Bitcoin.”
Gurbacs further states, “The TradFi system is notably inferior to Bitcoin exchanges and the broader ecosystem.” His statements emphasize a sense of disappointment regarding the SEC’s nationwide examination of cryptocurrency, while TradFi is concurrently 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 amplified a commotion on Wall Street, as Roaring Kitty introduces an additional $586 million in stock and options positions. The recent extraordinary price rally of the GME stock has been further bolstered by this development.
Is the crypto ecosystem superior to traditional finance?
Meanwhile, it is also important to mention that the GME meme stock at GameStop has experienced a nearly 47% increase. However, the GME meme coin, based in Solana and inspired by GameStop but not affiliated with it, has experienced a more than 150% increase in response to the ongoing chatter. Despite offering investors the same level of 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.
