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GameStop Corp. (NYSE: GME) announced today that it intends to raise $1.3 billion through a private offering of convertible senior notes and will use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin. The move comes a day after the company revealed an update to its investment policy, allowing…
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For a stock that was so widely loved and hated at the same time, GameStop (GME) has sort of wilted away from the public eye. Once the center of the Reddit r/WallStreetBets, GME shares have been trading in the $20 for most of the last year, save for a brief stop into the $30s. After…
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Despite strong institutional demand, Bitcoin (BTC) has struggled to reclaim the $100,000 level for the past 50 days, leading investors to question the reasons behind the bearishness despite a seemingly positive environment. This price weakness is particularly intriguing given the US Strategic Bitcoin Reserve executive order issued by President Donald Trump on March 6, which…
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Just 24 hours after adding its name to the roster of companies pursuing a bitcoin (BTC) treasury strategy, GameStop (GME) — led by its CEO Ryan Cohen — is also adding its name to those firms issuing convertible debt to raise funds for BTC acquisition. The $1.3 billion of convertible senior notes will have a…
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GameStop (GME) has added its name to the quickly-growing roster of publicly-traded companies adopting a bitcoin treasury strategy. Alongside its fourth quarter earnings report, the company said its board unanimously approved adding bitcoin as a treasury reserve asset. CEO Ryan Cohen in early February got tongues wagging when he posted a picture of himself and…
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A general view of the GameStop logo on one of its stores in the city center of Cologne, Germany. Ying Tang | Nurphoto | Getty Images Video game retailer GameStop announced Tuesday its board has unanimously approved a plan to buy bitcoin with its corporate cash, echoing a move made famous by MicroStrategy. The meme…
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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin has reclaimed the $85,500 level after a strong move to the upside, reigniting hopes for a push toward the psychological $90,000 mark. However, despite the recent bullish momentum, uncertainty continues to weigh heavily on global financial markets. Fears of an escalating…
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Leading cryptocurrency Bitcoin BTC/USD has hit new all-time highs in November and January and is getting more attention Wednesday thanks to GameStop Corporation GME becoming the latest public company to add BTC to its balance sheet. The move marks the fulfillment of a bold suggestion made years ago by CNBC host Jim Cramer. Here’s what…
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Bitcoin is a technology. It is not some force of the universe, some natural element or mineral that was “discovered” floating out in the ether. It is a technology. Technologies are created by human beings, not discovered. They are designed. That design has intent, elements of it are made specifically in a way to facilitate…
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GRAPEVINE, Texas (AP) — GameStop’s seesawing stock price surged 7% late Tuesday after the video game retailer disclosed plans to invest some of its cash in cryptocurrency. Without providing any details, GameStop said its board of directors had approved a revision in its investment policy to enable the Grapevine, Texas, company to convert some of…