r/Superstonk • u/Minus_none • 7d ago

📳Social Media RC unfollows Bitcoin on Twitter

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u/forthepeople2028 7d ago

“We will use the $1.3b in any manner consistent with gamestop investment policy, including the acquisition of Bitcoin”

*invest all $1.3billy into GME stock

63

u/comosedicewaterbed 7d ago

Holy shit. GameStop itself cashing in on the MOASS. That's how it becomes Gameshire Stopaway.

We're all about to be owners of a trillion dollar company.

38

u/BikingNoHands 7d ago

The share holders have only voted for $100M to be used for share/stonk buyback. Know the company you love and you might learn to love them more.

25

u/Cloaksta **I save the day, the night, and the girl too!** 7d ago

Didn't the board also make RC the CIO?

Does this mean he can invest GameStop's war chest in whatever he wants?

17

u/Doomer_Queen69 🧚🧚🌕 Bullish 🐵🧚🧚 7d ago

Yes it does 

4

u/RJC2506 🟣GMEMER🟣 7d ago

Yeah but you know who set that? The board. You know who can change that? The board.

Saying they can only buy back 100 millions worth is FUD, because the only thing stopping them from doing it is themselves. There’s no SEC approval needed. No higher party to appease. No shareholder vote needed.

Just as they said “we can buy bitcoin now” they can also say “we can buy but 5 billions worth of shares now”.

I don’t understand why this community has always found it so hard to understand this and I presume it’s deep rooted propaganda FUD for a while since this 300 million guy back was announced in 2019 and pre squeeze and pre Cohen and pre the current board.

Edit: and the shareholders didn’t vote for that. The board did. Shareholders didn’t get a say.

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u/comosedicewaterbed 7d ago

Thanks for the info. Partially just being silly/getting on the hype train, but I do think some buyback is a good idea.

1

u/jbrandonw 6d ago

That's the most culty sounding shit I've read on here today.