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GameStop Bets Big on Bitcoin with a $1.3B Purchase Plan

  • Video game retailer GameStop plans to raise $1.3 billion through Convertible Senior Notes to fund Bitcoin acquisitions.
  • The debt offering could go as high as $1.5 billion as the company plans to give the initial purchasers the option to purchase up to $200 million in extra notes.
  • GameStop intends to use the proceeds for general corporate purposes, including the acquisition of Bitcoin in line with its Investment Policy.
  • This move comes after GameStop's board approved adding Bitcoin to its investment policy, and CEO Ryan Cohen met with leading advocate for corporate Bitcoin adoption, Michael Saylor.

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