GameStop Increases Convertible Note Offering to $2.25 Billion — Potential Implications for BTC.

GameStop has raised its convertible note offering to $2.25 billion, an increase from the previously announced $1.75 billion, as stated in a press release on Thursday evening.

Key Takeaways:

• GameStop has increased its convertible note offering to $2.25B, featuring a conversion price with a 32.5% premium.
• The company possesses 4,710 BTC but remains undecided regarding future cryptocurrency acquisitions.
• Funds raised may be allocated for investments or acquisitions, with trading cards now being a primary revenue source.

This decision follows a similar $1.5 billion fundraising effort in April and comes after the company’s recent foray into Bitcoin.

Shares of the Texas-based retailer fell 24% over the past week, closing at $22.14 on Friday, despite remaining stable after the announcement.

GameStop’s Zero-Coupon Notes Feature 32.5% Conversion Premium

The notes, which do not accrue interest, have a conversion price of approximately $28.91 per share — representing a 32.5% premium over the stock’s average from Thursday afternoon.

This approach is similar to the strategy used by MicroStrategy, which has utilized premium note offerings to increase its Bitcoin holdings without immediate dilution.

GameStop first revealed its acquisition of 4,710 Bitcoin in March, which caused the stock to rise above $28 at that time. It remains unclear if the company intends to grow its cryptocurrency reserves.

CEO Ryan Cohen has indicated that GameStop will not mimic other companies or disclose its purchasing strategies. In a recent interview, he refrained from confirming whether additional BTC purchases are on the horizon.

The press release maintained flexibility, indicating that the proceeds would be allocated for “general corporate purposes,” including investments that align with GameStop’s investment strategy and “potential acquisitions.”

$GME GameStop just finalized the terms for their convertible note offering.
Increased to $2.25 billion from the initial $1.75B, with 0.00% interest, meaning bondholders will not receive payments unless they convert.
GameStop granted buyers the option to acquire up to $450M more in notes… pic.twitter.com/qnN4pVLM39

— Han Akamatsu 赤松 (@Han_Akamatsu) June 13, 2025

While the wording is somewhat ambiguous, it suggests the possibility of further moves in the digital asset space.

GameStop’s prior ventures into cryptocurrency have yielded mixed results. The company launched an NFT marketplace during the last market cycle but closed it down early last year.

During its annual shareholder meeting, Cohen shifted focus toward trading cards, which now account for nearly 30% of quarterly revenue.

“We’re concentrating on trading cards as a natural extension of our existing business,” he stated.

With capital secured and cryptocurrency already on its balance sheet, GameStop may consider revisiting Bitcoin when market conditions are favorable.

223 Companies Hold Bitcoin

An increasing number of companies are adopting Bitcoin as a hedge for their balance sheets or as a strategic investment. Recent statistics indicate that 223 public companies currently hold Bitcoin, a rise from 124 just days prior.

In total, over 819,000 BTC, roughly 3.9% of the total supply, is held by public companies, according to BitcoinTreasuries.NET.

MicroStrategy continues to be the largest corporate holder of Bitcoin, with 580,250 BTC valued at approximately $60.9 billion.

Other significant holders include Marathon Digital Holdings and Tesla, both possessing over $1 billion in Bitcoin.

Last week, Japanese investment firm Metaplanet announced an ambitious goal to acquire 210,000 Bitcoin by the end of 2027.

As reported, digital asset firms are actively entering capital markets to raise funds for substantial Bitcoin acquisitions, driven by the cryptocurrency’s surge to a record $111,965 last week.

This increase, more than 50% from early April, has triggered a flurry of listings and mergers as companies strive to secure funding while investor interest remains robust.

The post GameStop Upsizes Convertible Note Offering to $2.25B — How Could BTC Benefit? appeared first on Cryptonews.