GameStop Completes $1.5 Billion Convertible Note Offering for Bitcoin Purchases

GameStop has completed a $1.5 billion convertible note offering to enhance its corporate treasury strategy by purchasing Bitcoin. The company exceeded its initial target of $1.3 billion, raising an additional $200 million.

The offering generated approximately $1.48 billion in net proceeds, intended for general purposes including Bitcoin acquisitions.
The notes will mature in April 2030.
This strategy aligns with that of Strategy (formerly MicroStrategy), which holds over 528,000 BTC worth more than $45 billion.
GameStop's CEO recently appeared with Michael Saylor, a prominent Bitcoin advocate.
Investor reactions have been mixed; GameStop shares fell more than 21% over the past five days despite initial stock price increases following the Bitcoin announcement.
GameStop joins other companies like Strategy, MARA Holdings, and Metaplanet in using debt and equity offerings to increase Bitcoin reserves.