GameStop Plan to Raise $1.3 Billion to Buy Bitcoin

GameStop, a popular video game retailer, has announced plans to raise $1.3 billion by selling special bonds to select investors. This move aims to increase its cash and allow the company to buy Bitcoin.

The offering includes $1.3 billion in total bonds that mature in 2030 and pay no interest. Buyers can also purchase an extra $200 million in bonds within 13 days of the initial sale. These bonds are promises to pay but are not backed by specific assets. They also won’t increase in value over time. The bonds will mature on April 1, 2030, but they could be converted, redeemed, or bought back earlier.

Moreover, when converted, GameStop can repay the value in cash, company stock, or a mix of both. The initial conversion rate and other details will be set when the bonds are priced. The company stated that the average stock price between 1:00 p.m. and 4:00 p.m. Eastern Time on the pricing date would be used to set the initial conversion price.

Notably, the announcement comes soon after GameStop said that the board approved using Bitcoin as a reserve asset. Investors reacted positively, and GameStop’s stock price rose.

GameStop Announcement Trigger Stock Surge

Following the announcement, GameStop’s stock rose almost 12% on March 26, which shows investors’ enthusiasm for the company’s purchase news. According to Google Finance, GameStop’s stock closed at $28.36 on the NYSE, up 11.65% for the day. This further shows that the market is happy about the company’s move into digital assets.

GameStop made $131.3 million in Q4 2024, which is much better than the $63.1 million from last year. Sales went down by $511 million, but the company has cut costs by closing 590 stores in the U.S. in 2024. This focus on saving money is helping the company’s finances.

The company’s new investment policy, announced on March 25, says it will use some of its cash or borrowed money to buy digital assets, like Bitcoin and stablecoins. On February 1, GameStop had $4.77 billion in cash, much more than the $921.7 million from the previous year.

The Blockchain Group Buys 580 BTC

In a similar move, the Blockchain Group, the first Bitcoin Treasury Company in Europe with teams focused on Data, AI, and blockchain consulting and building, shared that it has finished buying 580 Bitcoin (BTC) for about $50.8 million. Its owned team, The Blockchain Group Luxembourg SA, purchased about $87,567.57 per bitcoin. The money came from the bond sale announced on March 6, 2025.

So far this year, the French company has seen great results, with a BTC Yield of about 709.8%, a BTC Gain of about 283.9 BTC, and a BTC € Gain of about $24.9 million.

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