GameStop's $1.5 Billion Crypto Move: Betting Big on Bitcoin!

From Video Games to Virtual Gold: GameStop's Bold New Strategy

Hold onto your controllers, folks! GameStop, the iconic video game retailer, just pulled off a jaw-dropping $1.5 billion offering of convertible senior notes. And guess what? They're diving headfirst into the crypto world, planning to stash some serious Bitcoin in their treasury!

On April 1, 2025, GameStop sealed the deal, raking in a cool $1.48 billion after fees, as per their SEC filing. They were initially gunning for $1.3 billion, but hey, who says no to more cash, especially when you're about to go all-in on Bitcoin?

This sale blew past expectations, with an extra $200 million in notes flying off the shelves. GameStop's not messing around—they're using these funds for general corporate shenanigans and, you guessed it, buying up Bitcoin like it's going out of style.

GameStop's not the only one jumping on the crypto bandwagon. They're joining a growing club of publicly traded companies looking to spice up their balance sheets with the king of cryptocurrencies.

They're taking a page out of Strategy's (formerly MicroStrategy) playbook, using convertible senior notes to fund their Bitcoin bonanza. Strategy's sitting pretty with over 500,000 Bitcoins, worth a mind-blowing $45 billion. Talk about a crypto war chest!

GameStop's board greenlit this wild ride on March 25, planning to use their $4.77 billion cash reserves to invest in Bitcoin and US-dollar-pegged stablecoins. They're not just playing games anymore—they're aiming to level up their financial game and break out of the retail box.

But hold up, not everyone's cheering from the sidelines. Bret Kenwell, an analyst at eToro, threw some shade, asking, "If Bitcoin is going to be the pivot, where does that leave everything else?"

GameStop's been closing stores left and right this year, raising eyebrows about their core retail biz. And despite this crypto bombshell, their stock barely budged, closing the day with a measly 1.34% bump.