GameStop Raises $1.5 Billion to Explore Bitcoin Asset Allocation

Video game retailer GameStop (GME) has completed a significant funding round, raising $1.5 billion after offering convertible notes to investors. As revealed in regulatory filings, the company raised the full amount of its $1.3 billion five-year offering, with an additional overallotment option bringing the total funds raised to $1.48 billion after expenses. This move may indicate a shift towards incorporating Bitcoin into GameStop’s investment strategy as part of their revised investment policy, previously endorsed by CEO Ryan Cohen.