GameStop Targets Crypto: $1B In Convertible Senior Notes For Bitcoin Purchase

GameStop, the video game retail company, experienced a significant downturn in its stock (GME) price, sliding more than 8% in after-hours trading on Wednesday, following the announcement that the company plans to raise $1. 3 billion to invest in Bitcoin (BTC) through the issuance of convertible senior notes. This move comes just a day after GameStop shares surged nearly 12% when the company revealed that its board had unanimously approved an update to its investment policy, designating Bitcoin as a treasury reserve asset. GameStop Planned Bitcoin Investment The planned investment in Bitcoin follows a recent trend of GameStop exploring cryptocurrency ventures source: https://www.newsbtc.com/bitcoin-news/gamestop-targets-crypto-1b-in-convertible-senior-notes-for-bitcoin-purchase/