Key Takeaways
- GameStop acquired 4,710 Bitcoin in a strategic shift to include crypto in its financial strategy.
- The company raised $1.5 billion through convertible notes for this Bitcoin purchase.
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GameStop announced Wednesday it had acquired 4,710 Bitcoin in its first crypto purchase, marking a new direction in the video game retailer’s financial strategy. The company announced the acquisition today in an X post.
GameStop has purchased 4,710 Bitcoin. pic.twitter.com/gGdr0BRrAv
— GameStop (@gamestop) May 28, 2025
Earlier in April, GameStop raised $1.5 billion through a private offering of convertible notes, which it designated for Bitcoin purchases.
According to a SEC filing, the offering consisted of zero-interest convertible senior notes due 2030, including the full exercise of the initial purchaser’s option to acquire an additional $200 million in notes.
While GameStop’s shares initially rose following the announcement last week, they have since declined, suggesting investor uncertainty about the company’s decision to hold Bitcoin as a treasury asset.
This is a developing story.
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