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GameStop Splashes Half A Billion Dollars On Bitcoin In Ultra Bullish Crypto Push

  • GameStop has invested approximately $513 million in Bitcoin, purchasing 4,710 BTC after a $1.5 billion convertible notes offering.
  • The move is part of GameStop's strategic shift to include cryptocurrency in its financial strategy and diversify its balance sheet.
  • GameStop's interest in Bitcoin was sparked by CEO Ryan Cohen's photo with Michael Saylor, leading to the company adopting Bitcoin as a treasury reserve asset.
  • GameStop's Bitcoin investment follows a trend of companies diversifying their balance sheets with BTC, following the playbook popularized by Michael Saylor's Strategy.

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