GameStop may have outperformed Bitcoin's annual return in one day, but here's why King Crypto sparks more optimism – GameStop (NYSE:GME)

Video game retailer stocks Gamestop Co., Ltd. (NYSE:GME) rose exponentially this week, outpacing the world's largest cryptocurrencies Bitcoin's (CRYPTO: BTC) makes annual profits in one day.

what happened: GameStop's stock price has rallied since the beginning of the week, driven by retail traders' excitement over the return of “Roaring Kitty” Keith Gill, the central figure behind the last stock rally in January 2021, according to data from Benzinga Pro. It rose by 190%. On the other hand, it pales in comparison to the GameStop whirlwind, which is up 125% over the past year.

That said, when viewed in a larger time frame, King Crypto's trajectory has evoked more optimism. Since the last meme stock mania in January 2021, Bitcoin has risen 91%, topping even its previous peak earlier this year.

Meanwhile, GameStop fell into its first decline in years and was unable to break past its all-time highs. The stock is still trading 38% below its all-time high.

Why it's important: While GameStop's trajectory showed a short-term sharp spike driven by social media events, Bitcoin has shown consistency over the years, strengthening its use case as a store of value asset.

The sustainability of GameStop's surge will become clearer in the coming days, but Bitcoin's penetration into the mainstream with the launch of a spot ETF means a more stable rise away from wild swings. right.

price actionAt the time of writing, Bitcoin was trading at $61,908.40, down 1.14% in the past 24 hours, according to data from Benzinga Pro.

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