GameStop Buys $512M Worth of BTC For Bitcoin Treasury
Summary
GameStop has purchased 4,710 Bitcoin, valued at approximately $512.79 million, following a $1.5 billion convertible senior notes offering. The acquisition aligns with GameStop's plan to establish a corporate Bitcoin treasury. CEO Ryan Cohen previously hinted at this strategy, inspired by Strategy's successful adoption of Bitcoin, which significantly increased its market capitalization. GameStop aims to replicate this success by integrating Bitcoin into its corporate strategy.
