GameStop Wants To Buy Bitcoin, To Raise $1.3 Billion

GameStop (NYSE: GME) has announced plans to raise $1.3 billion through a private offering of 0.00% Convertible Senior Notes due 2030, sparking comparisons to Michael Saylor’s high-profile Bitcoin strategy at MicroStrategy (NASDAQ: MSTR).

According to GameStop’s recent press release, “GameStop expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy,” the company said.

Critics argue that raising capital in this fashion may place current investors at risk if the move fails to deliver the returns some enthusiasts predict. On the other side of the debate, supporters say this could be the transformative step GameStop needs.

Bitcoin Magazine posted excitement over GameStop’s bold decision, announcing, “BREAKING: GameStop $GME to raise $1.3 billion to buy #Bitcoin.” They also noted that past examples of publicly traded companies purchasing Bitcoin in large quantities, such as MicroStrategy, generated substantial attention and, at times, dramatic returns.

GameStop’s official statement reveals that the notes will not bear regular interest, and the principal amount will not accrete. They will mature in April 2030 unless earlier converted, redeemed, or repurchased.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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