US video game retailer GameStop raises $1.5b to buy BTC

GameStop has raised US$1.5 billion through a private offering of 0.00% convertible senior notes due in 2030, including an additional US$200 million in notes.

The funds will be used to purchase bitcoin, following a strategy similar to MicroStrategy’s.

The announcement initially boosted GameStop’s stock, but shares have since declined, showing mixed investor reactions.

The company holds over US$4 billion in cash and reported US$3.8 billion in revenue in 2024, which may support further bitcoin acquisitions, according to Nathan Cox, chief investment officer of Two Prime Digital Assets.

Recent GameStop developments

Timeline
27-Mar-2025 💰 US video game retailer GameStop jumps 12% on bitcoin investment GameStop’s stock rises 12% after bitcoin investment. Q4 net income doubles, but sales drop 30%.
26-Mar-2025 📈 US video game retailer GameStop adopts bitcoin as reserve asset GameStop adopts bitcoin as treasury reserve asset Q4 net income rises to $131.3M, shares up 6.2%
14-Mar-2024 🎮 Animoca Brands expands MENA footprint with investment in UAE gaming firm Animoca invests in UAE’s Param Labs for Web3 growth Partnership enhances gaming infrastructure and IP ecosystem
11-Sep-2023 🕹️ On leaving Web3 gaming Shlok Khemani reflects on Web3 gaming flaws Highlights need for compelling experiences in future games
08-Mar-2022 🚀 Temasek, Tencent back $200m round of Australian NFT startup Immutable raises $200M, valued at $2.5B Plans global expansion and hiring 200 new employees

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Recent GameStop developments

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