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GameStop Raising $1.3B Via Convertible Debt to Buy Bitcoin
The offering comes 24 hours after the company announced its intention to begin adding bitcoin to its balance sheet.
Updated Mar 26, 2025, 8:46 p.m. Published Mar 26, 2025, 8:23 p.m.
What to know:
- GameStop is offering $1.3 billion in convertible notes with a 0% coupon, with net proceeds expected to be used for acquiring bitcoin.
- Led by Ryan Cohen, GameStop is taking a page from Michael Saylor's Strategy, which has raised many billions via convertible debt for the purposes of building its bitcoin stack.
- GameStop one day ago made public its intention to begin buying bitcoin for its balance sheet.
Just 24 hours after adding its name to the roster of companies pursuing a bitcoin treasury strategy, GameStop (GME) — led by its CEO Ryan Cohen — is also adding its name to those firms issuing convertible debt to raise funds for BTC acquisition.
The $1.3 billion of convertible senior notes will have a five-year maturity, according to a press release, and the underwriter greenshoe is for up to an additional $200 million. The paper will come with a 0% coupon.
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"GameStop expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin in a manner consistent with GameStop’s Investment Policy," the press release continued.
In making this move, GameStop is joining the likes of Michael Saylor-led Strategy (MSTR), Semler Scientific (SMLR), MARA Holdings (MARA) and Riot Platforms (RIOT) as those firms issuing convertible debt for bitcoin purchases.
GME shares are down 7% in after-hours trading following an 11.7% advance in the regular session on Wednesday. Bitcoin appears to be bouncing off of its worst levels of the day on the news, retaking $87,000 after falling as low as $86,000 minutes ago.
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Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Fidelity's Jurrien Timmer: Expect lame 2026 as four-year bitcoin cycle appears intact
The director of global macro at the asset management giant remains a secular bull on bitcoin, but isn't optimistic about the next year.
Bilinmesi gerekenler:
- A number of notable market analysts of late have dismissed the idea of bitcoin's four-year cycle and the nearly certain bear market that might imply.
- Fidelity's Jurrien Timmer, however, says the action so far this time around lines up about perfectly with past four-year cycles and the current bearish action should last deep into 2026.
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