Gamestop to raise $ 1.75 billion through convertible upper notes: More bitcoin purchases forward?
Gamestop Corp. CL A (NYSE: GME), a gaming company, which has gained popularity as Meme Stock, on Wednesday, 11 June, to raise $ 1.75 billion. The company announced that it intends to raise funds through a special offer of 0 percent of the convertible observations that will end in 2032.
Gamestop announced that the first investors have an additional amount of $ 250 million within 13 days of the date of release. The company announced that the offer revenues will be used for public companies, including making investments in a way that is consistent with the possible investment and acquisition policy.
Next Bitcoin acquisitions by Gamestop?
Although the company did not explicitly specify in advertisement The money will be used in bitcoin purchases, speculation indicates a possible imminent acquisition of BTC. As said Coinpedia, Gamestop Bitcoin added to the Treasury Department that resembles an inflation strategy.
During the first quarter, Gamestop announced 4,710 BTCS for $ 512 million. With the demand for Bitcoin significantly, Gamestop is likely to accumulate more power than BTCS in the near future by harnessing the stock market.
Market impact
After this announcement, GME fell more than 11 percent to trading about $ 25.23 at the time of writing this report. The company, which is currently estimated at $ 13.49 billion, has seen increasing volatility as investors have shown anxiety about more stock mitigation.
However, the long -term effect of the deal will be positive for metaplanet, if the company accumulates more power than BTCS.
