This is Roaring Kitty, one of the best retail traders of all time. He turned $53k into $48m on $GME. He was offline for 3 years and is back today. Here is his full story: The key to 10,000x trading this cycle.
Overview
Keith Gill, also known as @TheRoaringKitty, shared on his Twitter page that GameStop stock is undervalued.
He purchased it in 2019 for $53,000
His wallet peaked at $48 million during the GameStop surge
Gill hasn’t released anything in three years, but today he’s back.
Who is @TheRoaringKitty?
Keith Gill was born in Brockton in ’86 and was a college track star. After earning All-American honors in college, he began to dabble in stock analysis. In 2019, he became an investment icon and a celebrity in the crypto Twitter space by betting on $GME, and founded memeszn in 2021. How did he do it?
As early as 2014, he created his own Twitter account with the goal of "finding stocks and seizing investment opportunities." In 2015, he also joined YouTube, regularly broadcasting live to show his transactions and market research. He also joined Reddit in 2019 with the username DFV (DeepFuckingValue).
In 2019, he used all of these social media platforms to buy @GameStop / $GME for $53,000. He pushed hard, hyping up Reddit, YouTube, and Twitter. Other community members also supported his thesis, causing a massive increase in the stock price. In 2021, $GME peaked at $483.
In February 2021, Gill testified to Congress, claiming that GameStop was "significantly undervalued." Despite a class-action lawsuit alleging that he caused "huge losses" to small investors and violated securities laws, the lawsuit was dismissed.
Ultimately, Gill made an estimated $48 million and became a gigachad, enabling his followers to profit and challenge traditional venture capital firms. His story highlights the power of the media in the market.
Law professor Joshua Mitts highlighted the unique drivers of Meme stock’s rise, arguing that the rise in Meme stock is driven by a unique set of factors:
New retail traders flood into the market
Stimulus measures and historically low interest rates during the pandemic have provided ample liquidity
Gill's allegedly large and sustained profits
This is especially true for cryptocurrencies, and here are a few things we can learn from this story:
Powerful KOLs now have the power to influence the market. Look at Ansem, he is the embodiment of $SOL and $WIF, and his contribution to the "pump" of $SOL and $WIF is priceless.
Following many KOLs usually leads to losses, but choosing the right one is the easiest way to make a profit. If he and his arguments are influential, then the crowd will follow him, thus forming a community and leading to pump.
This is why memes have become so popular. In this space, all players are on equal footing and VCs won’t sell you anything less than 1,000x after each private round unlocks.
Maybe this meme season will go on forever, let's wait and see.