Gamesop’s shares jumped almost 12% on March 26 after the company announced its intention to buy Bitcoin (BTC).
The company plans to finance the purchase thanks to loan funding. After closing the markets on March 26, Gamescop announced a convertible ticket offer of $ 1.3 billion.
According to a press release, convertible senior tickets – debt that can be converted into equity – will be used for general purposes, including the acquisition of Bitcoin.
“GAMESTOP plans to use the net product of the offer for general corporate purposes, including the acquisition of Bitcoin in a manner in accordance with the GAMESTOP investment policy,” he said.
The company revealed that on March 25, planned to use part of its business species or future debt to buy digital assets, including Bitcoin and Stablecoins Pêtres in the United States. Gamestop’s cash reserves amounted to $ 4.77 billion on February 1, compared to $ 921.7 million a year earlier.
According to Google Finance, Gamesop’s shares closed $ 28.36 on the NYSE, marking a gain of 11.65% for the day.
GAMESTop Stock Performance on March 26. Source: Google Finance
The company declared a net income of $ 131.3 million for the fourth quarter of 2024, against $ 63.1 million for the previous year. Although net sales have dropped $ 511 million in annual shift, the company has aggressively reduced spending, including the closure of 590 stores in the United States in 2024.
GameStop was formerly at the center of the enthusiasm of the actions of memes 2021 when the retail merchants orchestrated a “short pressure” which sent the price of the row. Some Hedge Funds closed its doors following the losses suffered during the short pressure, giving GameStop even Stock to make a story “David vs Goliath”.
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More and more companies adopt the Bitcoin reserve strategy
GameStop follows the example of the strategy, which first added Bitcoin to its treasury in August 2020. In December 2024, Strategy shares had won 3,200% since the adoption of its cryptographic strategy.
Metaplanet, a Japanese company with purchase plans of 21,000 BTC by 2026, has seen its stock market price increase by 4,800% since the announcement of this decision. In promotional equipment, Metaplanet said it has attracted a significant number of new investors, its market capitalization increasing by 6,300%.
Semler Scientific also saw a peak in its course after announcing its intention to buy Bitcoin.
According to Coingecko, 32 listed companies hold BTC on their balance sheets.
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