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Angel Investor’s Sarcasm
Focusing on the diversified strategy choices for adapting to change
Recently, well-known American angel investor Jason Calacanis mocked GameStop’s decision to invest in Bitcoin (BTC, current price $87,316), calling it a “lifeline” for a publicly traded company that lacks a business model. However, several cryptocurrency experts believe that this move may initiate a new trend of companies incorporating Bitcoin into their balance sheets, demonstrating its long-term potential and strategic value.
On March 26, Jason Calacanis wrote in a post on X:
“If you are a publicly traded company that cannot find a business model, then buy Bitcoin! If Michael Saylor, founder of Strategy, really wants to buy $1 trillion worth of Bitcoin, this might actually be good advice.”
This statement seems to imply that both Strategy and GameStop are publicly traded companies lacking a business model. Jason Calacanis is a prominent angel investor in the U.S., known for successfully identifying the potential of startups such as Robinhood, Uber, and Trello in their early stages. However, the market has not fully embraced Jason Calacanis’s perspective.
Diverse Strategic Choices for Adapting to Change
Tomas Fanta, head of cryptocurrency investment firm Heartcore, stated in an interview with foreign media outlet Cointelegraph that holding Bitcoin offers long-term advantages for companies, including price appreciation potential and low correlation with the stock market. He emphasized that he disagrees with treating Bitcoin as a last resort for failing companies.
Fanta pointed out that while a single case is insufficient to define a trend, GameStop’s actions may signify a new phase of corporate funding diversification into cryptocurrency:
“We may be witnessing the first corporate reserve experiment outside of technology or cryptocurrency-related companies (such as Coinbase).”
Meanwhile, Saul Rejwan, managing partner of early-stage cryptocurrency firm Masterkey, also believes that Bitcoin is transitioning from a marginal role to a legitimate option for companies to address long-term currency fluctuations. He stated:
“Bitcoin as a reserve asset is no longer a niche idea; for companies looking to integrate into a digitally native, inflation-resistant financial future, this is a legitimate move. GameStop’s actions are just a part of this trend.”
Saul Rejwan further analyzed that historically, companies resistant to change, such as Nokia, often decline. Adopting Bitcoin can be seen as an adaptive strategy; if managed transparently and with proper risk management, Bitcoin can provide long-term resilience for companies, especially those with low time preference that align with digital values.
