GameStop Announces Plans to Raise $1.3B to Buy Bitcoin
The original memestock is following the Michael Saylor playbook now.
GameStop reveals plans to raise $1.3 billion via convertible notes, following MicroStrategy’s model to acquire 
Bitcoin as a corporate asset.
What’s the Scoop?
- Debt Offering: GameStop plans to issue $1.3 billion in convertible senior notes maturing in April 2030 to fund its Bitcoin purchase.
- Corporate Treasury Shift: Proceeds are aimed at acquiring Bitcoin as a treasury asset, marking a strategic pivot for the retailer.
- Cash Reserves: Despite holding $4.7 billion in cash, GameStop aims to leverage debt to optimize Bitcoin holdings.
Bankless
It’s time to break up with your bank, and join the movement for a better world.
