Will GameStop Buy More Bitcoin? GME Boosts Latest Fundraise to $2.7 Billion

GamestopA prominent Videoigar Seller who builds a Bitcoin Treasury, generated an additional $ 450 million of funds raising that can be used to buy BTC, According to the application with DIP.

Increasing increases its previous convertible notes offering a total of $ 2.7 billion after the initial customer took advantage of his possibility of buying an additional $ 450 million in notes 2030. The offer was earlier increased from $ 1.75 billion to $ 2.25 billion.

Although the plans for net income do not mention the Bitcoin in particular, it gives space for the company to buy a top -notch crypto currency.

“The company intends to use a net income from Greenshoe Exercise for general corporate purposes, including the entry of investment in the manner in accordance with the company’s investment policy and potential acquisitions,” the recent application reports.

This investment policy involves the possibility of investing in Bitcoin, as is the case in May, Purchase of 4.710 BTC worth $ 512 million At the time of the purchase and about $ 506 million at today’s prices.

The company first hinted at its intentions to buy BTC in March, prominent photo between his executive director Ryan Cohen and Bitcoin’s advocate and Strategy (earlier Microstrategy) Chairman Michael Saylor. The strategy has nearly $ 64 billion Bitcoin, and the pioneer has launched a model of the Crypto Treasury, which has been adopted by Gamestop ever.

Since then, Gamestop has used Bids of convertible notes To raise funds for the potential supplements of Bitcoin, the next time Saylor and the strategy presented to Bitcoin Treasury.

However, while the strategy routinely adds its Bitcoin crowd, usually announcing the weekly shopping, the future of Gamestop with the leading Crypto currency is a little less obvious. IN Recent interviewCohen said that the company “won’t call our shots” in advance, referring to the purchase of Bitcoin, adding that “The company” does not follow someone else’s strategy “.

The recent Bitcoin plans have not benefited from the price of shares.

Gamestop shares (GME) dropped more than 10% to a level of $ 30.73 after announcing his first Bitcoin purchase in May. They fell again when he announced his Other convertible note offerwhich has now ran into almost $ 2.7 billion after the Greenshoe’s subsequent and subsequent exercises.

The shares were reduced earlier on Wednesday, but they completed the trading day of about 1%. Nevertheless, the GMA in the amount of $ 23.55 was reduced by about 23%.

Gamestop shares have grown abruptly during Phenomenon of meme supplies This Wall Street placed against Redditor and retailer in retail in battle with short bars.

The company participated in Crypto Beyond Bitcoin, trying to build an Ethereum nft market before Disagging him at the beginning of 2024. He also rejected his nft wallet 2023. Quoting regulatory uncertainty in both cases.

Edited Andrew Hayward