GameStop announced its plan to raise up to $1.3 billion through convertible senior notes aimed at purchasing Bitcoin, taking inspiration from the buying strategy of cryptocurrency-focused firm Strategy. The proceeds from this offering will also be used for general corporate purposes. This announcement follows GameStop's recent update to its investment policy, allowing it to acquire Bitcoin as a treasury reserve asset. The company's intent to dive into Bitcoin purchases reflects a shift towards integrating cryptocurrency into its financial strategy, alongside traditional retail operations.

Source 🔗