GameStop Commits $1.3 Billion to Bitcoin Investment in Strategic Shift

The retailer plans to use its cash reserves and convertible debt to purchase Bitcoin, while continuing store closures and restructuring efforts.

GameStop's board unanimously approved a plan to invest in Bitcoin as a treasury reserve asset, with no cap on the amount to be purchased.
The company raised $1.3 billion through convertible debt to fund its Bitcoin acquisitions, following a broader trend of corporate cryptocurrency adoption.
GameStop's stock surged by over 10% following the announcement, reflecting renewed investor interest in the company's strategic pivot.
The retailer anticipates closing a significant number of additional stores in 2025 as part of ongoing cost-cutting measures.
Analysts remain cautious about the risks of cryptocurrency market volatility and the untested nature of GameStop's Bitcoin strategy.