Bitcoin’s Green Arrow Shoots Up Against Robinhood
29 Jan 2020 — We’re on a mission to democratize finance for all. Seriously Robinhood? The question remains: did Robinhood act to protect its customers from buying into GameStop under such volatile conditions or were they acting to protect Wall Street insiders from losses?
If you have no idea what was going on, well, Robinhood, an online brokerage firm halted the trading of #GME as its price soared more than 700%. Redditors banded together to buy $GME to inflate the price, making a huge profit for themselves, and destroying the hedge fund guys who were betting against the company.
But what’s the immediate aftermath of Robinhood’s action? The Green Arrow (pun-intended) of Bitcoin has literally shot up, in which #Cryptocurrency prices have soared breaking a downward trend in recent days.
According to article on Forbes by Billy Bambrough, bitcoin and cryptocurrency advocates have been quick to claim Robinhood’s heavy-handed interference will advance #blockchain-based assets and services.
“This Robinhood decision to ban $GME and $AMC is bananas. And prob massively bullish for $BTC as so many ppl are seeing that the system IS rigged after all and hence should go to decentralized safe havens.” – Fritz Lanman, CEO of ClassPass.