GameStop recently bought $513 million worth of Bit
GameStop recently bought $513 million worth of Bitcoin
The U.S. video game and consumer electronics retailer did not explicitly say that the funds raised would be used to purchase more Bitcoin, but said that in addition to potential acquisitions, it intends to invest in a manner consistent with GameStop's investment policy.
GameStop recently raised $1.5 billion through convertible notes, a portion of which was used to purchase 4,710 Bitcoins (BTC) on May 28, which were worth $513 million at the time. Convertible senior notes have become an increasingly common financial instrument for public companies seeking to bolster their Bitcoin reserves.
According to BitcoinTreasuries.NET, GameStop currently holds 4,710 Bitcoins, making it the 13th largest Bitcoin holder.

The $1.75 billion private placement has a 0% interest rate, and the convertible senior notes will mature on June 15, 2032.
The offering includes an option for the initial purchasers to purchase an additional $250 million of notes. The notes can be converted into cash, GME shares, or both, depending on GameStop's decision.
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