GameStop has successfully completed a $1.5 billion offering of convertible senior notes, aiming to utilize the proceeds for purchasing Bitcoin to hold in its treasury. The offering was initially announced to raise $1.3 billion, with an additional $200 million sold as an option for investors. After this move, GameStop has about $1.48 billion in net proceeds, which will support general corporate purposes, particularly the acquisition of Bitcoin. This strategic shift follows GameStop's previous struggles in the digital asset space, after launching an unsuccessful NFT platform and selling significant amounts of IMX tokens. In recent times, CEO Ryan Cohen has shown interest in adopting practices similar to leading Bitcoin treasury holders. Despite some volatility in GameStop's stock price following the announcement, there have been indications of recovery as investors react to the company’s new Bitcoin strategy.

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