GameStop announced plans to offer $1.75 billion in convertible senior notes to investors, intending to use the funds for general corporate purposes, including potential investments in cryptocurrencies. This announcement came shortly after the company purchased 4,710 Bitcoin for over $500 million. The company's stock saw a 10% decline during after-hours trading following the news, marking a drop of 9.5% since announcing plans for further Bitcoin acquisition in March. GameStop has shifted its investment strategy to include Bitcoin as a Treasury Reserve Asset, highlighting a notable change in its approach towards digital assets after previous unsuccessful ventures in NFTs. The company holds $4.7 billion in cash and equivalents, reflecting a significant increase from the previous year. Though details on the average purchase price of the Bitcoin were not disclosed, the firm had previously generated approximately $1.48 billion from an earlier convertible debt offering.

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