GameStop Commits to Bitcoin Investment, Raises $1.3 Billion for Purchases

The retailer's board approved a plan to use cash reserves and convertible debt to buy Bitcoin, while continuing store closures in a bid to redefine its business strategy.

GameStop's board unanimously approved adding Bitcoin as a treasury reserve asset, with no limit on the amount it may purchase.
The company raised $1.3 billion through convertible debt to fund Bitcoin acquisitions, signaling a significant shift in its investment strategy.
GameStop plans to close a substantial number of stores in 2025, building on the 1,000 closures completed last year, as part of ongoing cost-cutting efforts.
Investor enthusiasm over the Bitcoin move led to a surge in GameStop's stock price, though analysts remain cautious about the risks of cryptocurrency volatility.
This strategy aligns with a broader pro-crypto stance under the Trump administration, which recently established a strategic cryptocurrency reserve.