GameStop Stock Flat After $450M Capital Raise

Gamesop shares were traded sideways despite an increase in $ 450 million in their private offer of convertible banknotes for investment that could include bitcoins.

Retailer published to the US Securities and Stock Exchange Commission on Monday that someone who has decided to Initial offer of banknotes $ 2.25 billion decided to buy another $ 450 million.

The funds have been set aside for general corporate purposes, including investments and potential acquisitions. Bitcoin (BTC) has not been mentioned specifically, but the retailer has marked plans for the growth of the cash register in the past.

For current prices, with bitcoins trading If Gamestop used full $ 450 million to buy bitcoins at about $ 108,000, could almost double your Existing cash register 4 710 Bitcoin.

Bitcoins GameStop is missing in stock

Monday’s business session after submission, data Google Finance show Gamestop shares (GME) dropped from an opening price by $ 23.03 to a minimum of $ 22.45, which represents a 2.5% drop.

The stock price has recovered slightly and has been more than 1.8% over the last five days and is traded for $ 23.55 after closing on Wednesday; However, it also fell by 0.38%in the clock trading.

Stock prices are similar to movements since May, when GameStop has also failed to increase, even though the retailer announced that he was buying bitcoins worth half a billion dollars. Instead, Gamestop dropped around 11%.

Meanwhile other companies such as the Japanese investment company Metaplanet, saw stock prices rise 22% after the Bitcoin plans announcement.

Indonesian Fintech Company Digiasia Corp The shares also recorded the tip of 91% And the Paris Krypto company Blockchain Group recorded its increase of 225% after buying bitcoins in March.

Bitcoin cash register plans are not enough

Vincent Liu, Chief Investment Director of Kronos Research Acceptance of bitcoins If you want to diversify the risk of the Ministry of Finance and take advantage of new liquidity in the middle of the inflated level of USD national debt, it is not enough to buy bitcoins.

The introduction of the Bitcoin cash register requires a “well -planned strategy to protect capital and strengthen liquidity” because without “clear performance and long -term vision is unlikely to provide lasting value,” Liu said.

“It’s not just buying bitcoins. It’s how and why. A clear strategy and strong implementation build confidence and attract liquidity, but if it’s just a hype or an event” sell news “like Gamestop, the impact will be attenuated.”

Related: Blockchain Group adds $ 68 million in bitcoins to the company cash register

Other crypto companies Gamestop

Gamestop previously created raids to the crypto space SA Crypt for their users that eventually Turn off in November 2023 due to regulatory uncertainty.

Triggered NFT Marketplacewhich was Eventually he also closed in January 2024Due to similar concerns about regulatory uncertainty.