GameStop (GME) may soon begin or has already started acquiring Bitcoin (BTC) after successfully closing its offering of $1.3 billion in five-year convertible notes. The company fully exercised the $200 million greenshoe option, bringing the total proceeds to $1.5 billion. After fees, GameStop received $1.48 billion from the sale, as disclosed in a filing released after the close of U.S. trading on Monday.
Last week, GameStop, under CEO Ryan Cohen’s leadership, also revealed that its board had approved an update to the company’s investment policy, allowing Bitcoin to be added to its balance sheet. This marks the company’s latest move to diversify its assets and embrace digital currencies.
Following the announcement, GameStop shares saw a 1.35% gain during the regular session and rose an additional 0.8% in after-hours trading. Meanwhile, Bitcoin is trading modestly higher at $84,900.
