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GameStop (GME) stock recently surged in early trading Friday following its earnings report, highlighting the company's exploration of digital assets.
Devin Ryan, Citizens JMP director of financial technology research, joins Morning Brief to explain that the growing trend of companies adding digital assets to their balance sheets has had a positive market reaction.
He sees this as a key factor in driving adoption and increasing trading activity across the industry.
"If you see these reserves happen and more adoption at the corporate level, that could drive crypto market cap up by multiples from here," Ryan says. "The buying demand that didn't exist before is coming through, and that's very good for pricing."
Comparing GameStop's strategy to that of MicroStrategy (MSTR), Ryan points out that bitcoin (BTC-USD) remains the dominant asset, and the broader trend of crypto reserves could have a significant impact on prices.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
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