GameStop Invests $1.5 Billion in Bitcoin, Eyes Future Growth

Video game retailer GameStop recently completed a $1.5 billion sale of convertible senior notes, which will be used to acquire Bitcoin for its treasury. This move surpasses initial expectations and marks a significant shift in the company’s strategy for financial diversification. The funds, raised on April 1st, 2023, are allocated towards general corporate purposes, including investing in Bitcoin. GameStop joins a growing trend of publicly traded companies diversifying their holdings by incorporating Bitcoin into their portfolios.