GameStop has completed the issuance of $1.5 billion in convertible bonds, planning to use the funds for investments in Bitcoin. This decision is part of a broader strategy of diversifying the company's assets.
Bond Issuance and Bitcoin Purchase Plans
On April 1st, 2025, GameStop completed the issuance of convertible bonds, raising $1.48 billion after fees. The company initially aimed to raise $1.3 billion, but the sale exceeded expectations by $200 million. The funds are set to be used for general corporate purposes, including Bitcoin purchases.
Comparison with Other Companies
GameStop's plans to invest in Bitcoin align with the current trend among public companies. Similar to the company Strategy, GameStop is using convertible bonds to fund Bitcoin purchases. Strategy currently holds more than 500,000 Bitcoin, valued at over $45 billion.
Market Reaction and GameStop Prospects
GameStop's decision to invest in Bitcoin has triggered a variety of market reactions. eToro analyst Bret Kenwell expressed concerns, asking: “If Bitcoin is going to be the pivot, where does that leave everything else?” Amid the closure of several retail locations, GameStop shares increased by 1.34% following the announcement.
GameStop's decision to invest in Bitcoin reflects a growing trend among companies seeking to diversify their assets. However, this move carries certain risks and has caused mixed reactions in the market.
