GameStop Aktie News

In the early days of bitcoin, it was hard to imagine Fortune 500 treasury teams doing anything more than monitoring its unpredictable price swings out of casual interest. [contact-form-7] But 15 years and several bull-bear cycles later, the cryptocurrency is no longer just the domain of technologists and retail investors.

GameStop Corp (NYSE: GME) opened more than 15% down on Thursday after announcing plans of raising $1.75 billion through a convertible notes offering to potentially expand its BTC holdings.

Shares of GameStop Corp (NYSE:GME) sank 19.5% on Thursday morning after the video game retailer unveiled plans to raise up to $1.75 billion through a private offering of zero-coupon convertible senior notes due 2032. The offering includes an option for initial purchasers to buy an additional $250 million in notes within 13 days of issuance, the company said.

GameStop stock tumbled Thursday on a $1.75 billion offering, potentially for bitcoin purchases. Retailer missed sales views earlier this week.

Shares of the video game retailer GameStop (GME -19.48%) had tanked roughly 19%, as of 10:18 a.m. ET today. The company announced plans to issue $1.75 billion in convertible notes for "general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions.

For the last couple of years, investors have become enamored by the skyrocketing share prices of companies such as Nvidia and Palantir Technologies. Prior to the artificial intelligence (AI) revolution, however, these two companies were seldom covered in financial news circles.

The videogame retailer is raising $1.75 billion in bonds that can convert to stock.

The video game retailer announced plans for a $1.75 billion convertible notes offering to partially fund its bitcoin purchase.