GameStop Considers Bitcoin Asset Allocation Following Convertible Notes Offering

According to Foresight News, U.S. video game retailer GameStop (GME) may be on the verge of or has already begun incorporating Bitcoin into its asset portfolio. Regulatory filings submitted by the company after the U.S. stock market closed on Monday reveal that GameStop has successfully completed the full subscription of its $1.3 billion five-year convertible notes offering. Including the overallotment option, the total funds raised amount to $1.5 billion, with net proceeds of $1.48 billion after deducting expenses. Previously, during the announcement of its fourth-quarter financial results, GameStop's board of directors, led by CEO Ryan Cohen, passed a resolution to update the company's investment policy. This update includes the potential allocation of Bitcoin within its balance sheet.