GameStop Acquires $512 Million in Bitcoin for Corporate Treasury
- GameStop purchased 4,710 BTC, valued at approximately $512 million.
- The acquisition follows a $1.5 billion offering of convertible senior notes.
- The purchase aligns with GameStop’s plan to establish a Bitcoin treasury.
- CEO Ryan Cohen previously hinted at Bitcoin plans alongside Michael Saylor.
- GameStop aims to emulate the success of firms holding Bitcoin as an asset.
GameStop has invested in Bitcoin by acquiring 4,710 BTC worth about $512 million, funded by a recent $1.5 billion note offering. This move is part of their strategy to create a corporate Bitcoin treasury.
Source (2.6)https://decrypt.co/322390/gamestop-buys-512m-worth-of-btc-for-bitcoin-treasury?rand=52368
