From Yahoo Finance: 2025-06-12 12:20:00

Shares of GameStop plunged 20% after announcing plans to raise $1.75 billion in debt financing, the second such plan in recent months. The company hinted at using the money for investments and potential acquisitions, though not specifically mentioning Bitcoin. GameStop previously stated a strategy shift to invest in Bitcoin as a treasury reserve asset.

This $1.75 billion financing round follows GameStop’s first Bitcoin purchase last month, acquiring 4,710 Bitcoin worth over $500 million. The company’s pivot to Bitcoin mirrors Strategy, a software company that saw a 3,000% share price increase after investing in Bitcoin. GameStop struggles with declining sales and store closures due to the shift from physical to digital games.

GameStop investors have expressed skepticism about the company’s crypto plans, with shares dropping 23% after the initial strategy shift announcement. As Bitcoin gains popularity, more non-crypto companies are investing in Bitcoin to boost share prices. Over 60 non-crypto companies are now pursuing a “Bitcoin treasury strategy” according to a report from Standard Chartered.



Read more at Yahoo Finance: GameStop shares plummet 20% as the video-game retailer announces new capital raise after first Bitcoin purchase