GameStop’s announcement on Wednesday that it would sell convertible debt to buy Bitcoin and bolster its balance sheet seems contrary to its past approach to digital assets.
In recent years, the video game retailer debuted an ill-fated NFT platform and sold large quantities of IMX, the native token of Ethereum layer-2 network Immutable X.
GameStop now appears to be following the path of Bitcoin hodler Strategy, saying it will offer $1.3 billion worth of convertible senior notes and potentially use proceeds to start stockpiling the largest cryptocurrency by market value.
Strategy, which began acquiring Bitcoin in 2020, now holds more than 500,000 Bitcoin worth around $44 billion. In recent years, as it has pivoted its focus from software…
Apr 20 2025
