GameStop Raising $1.3B of Convertible Debt for Bitcoin Purchases

Just 24 hours after adding its name to the roster of companies pursuing a bitcoin (BTC) treasury strategy, GameStop (GME) — led by its CEO Ryan Cohen — is also adding its name to those firms issuing convertible debt to raise funds for BTC acquisition.

The $1.3 billion of convertible senior notes will have a five-year maturity, according to a press release, and the underwriter greenshoe is for up to an additional $200 million.

“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 press release continued.

In making this move, GameStop is joining the likes of Michael Saylor-led Strategy (MSTR), Semler Scientific (SMLR), Marathon Digital (MARA) and Riot Platforms (RIOT) as those firms issuing convertible debt for bitcoin purchases.

GME shares are down 7% in after hours trading following an 11.7% advance in the regular session on Wednesday. Bitcoin appears to be bouncing off of its worst levels of the day on the news, retaking $87,000 after falling as low as $86,000 minutes ago.

İlginizi Çekebilir:Neutrl Raises $5M to Tokenize a Popular Hedge Fund Altcoin Trade
share Paylaş facebook pinterest whatsapp x print

Benzer İçerikler

Major U-Turn in Crypto Markets Sends Bitcoin Back Below $87K
Bitcoin Whales Bought $11B of BTC in Two Weeks as Confidence Grew, Glassnode Says
Bitcoin Friday Futures: CME Group’s Top Crypto Launch Adds Options in February
Why Is Ether Down Today? Market Fears and Growing Supply Help Fuel 5% Slide
XRP, SOL and ADA Flash Bullish Patterns as Traders Eye Recovery
Crypto Already Won Election as Trump Rises and Senate’s Sherrod Brown Falls
Bahiscom Resmi Giriş | © 2025 |
404 Not Found

404

Not Found

The resource requested could not be found on this server!


Proudly powered by LiteSpeed Web Server

Please be advised that LiteSpeed Technologies Inc. is not a web hosting company and, as such, has no control over content found on this site.