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After GameStop Short Squeeze, r/Wallstreetbets Is Ready For Bitcoin
Ever since the Federal Reserve was created in 1913, the game has been rigged against the average person. For years, Wall Street has been manipulating the market to keep ordinary people from “making too much money” while the 1 percent swim in huge gains. They don’t want a truly free market to trade, they want it to be one-sided to benefit them. When it comes to giving a middle finger to the establishment, nobody does it better than Bitcoiners and r/wallstreetbets.
We’re not just making money, it’s about so much more than that. We’re making history.
The subreddit has been making news this week as a hub for retail investors who figured out that Melvin Capital and other hedge funds were short selling shares of GameStop ($GME), essentially betting that the company would fail. Members of r/wallstreetbets bought the stock in high quantities, causing a snowball effect which forced the shorters to chase after the price and buy back at a higher mark to try and cut their losses, pushing the price higher and higher. This is called a “short squeeze.”
Watching Wall Street suits crying because they got outplayed at their own game by a bunch of “dumb” people on the internet has been glorious to watch. And it has demonstrated that the good people at r/wallstreetbets are future Bitcoiners because, when they find out what Bitcoin provides, they’ll want to opt into BTC with no hesitation. This short squeeze has shown that they want an open, free and fair market where the big guy doesn’t have an advantage over the little guy. They want justice to be brought on those crooks that run our financial system. There are a lot of similarities in what we’re both fighting for.
Bitcoin provides the only truly open, free market in the entire world. I, for one, cannot wait until they join us in adopting a Bitcoin Standard, as they will be providing different insights, thoughts, strategies and fire memes. Some of them are no doubt Bitcoiners already, but for those who haven’t gone down the Bitcoin rabbit hole yet, they’re standing right at the start of it.
Further demonstrating the advantages of Bitcoin over the traditional financial system, popular mobile investing app Robinhood halted the trading of $GME, $AMC and a few other stocks this morning, and it has only backfired on the app. People of all backgrounds and different opinions have come together to point out the fraudulent action.
As Dave Portnoy said in the tweet below, when people like Alexandria Ocasio-Cortez and Donald Trump Jr. come together against you, you messed up big time. What Robinhood did appears criminal, bailing out its billionaire hedge fund buddies while punishing retail investors for outsmarting them. Meanwhile, r/wallstreetbets did nothing illegal or anything of that nature, it just countered this hedge fund and won. Robinhood didn’t like that and punished retail investors for making financially smart choices.
I’m fired up. The people are waking up. We’ve all had enough of this clearly one-sided, corrupt financial system. There are clearly no rules for the 1 percent, as it can just stop the trading of assets for retail and allow these people to reallocate their positions to beat whoever is outsmarting them.
The only way to beat them completely is to opt out of their game and play by a fair set of rules, and Bitcoin provides the ability to do that. It’s only a matter of time before our brothers and sisters at r/wallstreetbets join us in completely taking down the entire corrupt financial system with Bitcoin. Keep fighting the good fight everyone, the suits stay big mad.
The post After GameStop Short Squeeze, r/Wallstreetbets Is Ready For Bitcoin appeared first on BitcoinLinux.