Vertical Research Advisory Managing Partner Kip Heriz discussed the gamestop by adding bitcoin as a Treasury Reserve Asset on ‘Money Making Money’.
The gamestop is investing in bitcoin.
On Wednesday, Video game retailer Revealed the acquisition of 4,710 bitcoins.
It marks the company after revising its investment policy to include bitcoins as “Treasury Reserve Asset” after buying a cryptocurrency for the first time of gamestop.
A gamestop store in New York City is seen on March 4, 2024. (Through Shelby Knowles / Bloomberg Getty Image / Getty Image)
4,710 bitcoin The gamestop purchased on the gamestop purchased on Wednesday was $ 505 million.
Invest in gamestop, bitcoin to close the ‘important number’ of shops in 2025
A private offering of 0.00% convertible senior notes was purchased by the video game retailer about two months after the completion of a private offering, which was $ 1.48 billion in net income.
Gamestop said in a Securities and Exchange Commission that the offer was filed that net income would be used for “general corporate purposes, including the acquisition Bitcoin In a way according to the company’s investment policy. ,
A visual representation of Digital Cryptocurrency bitcoin has been observed in Paris on November 12, 2024. (Chesanot / Getty Image / Getty Image)
Get Fox Business when you click here
At the end of March, the video game retailer revised its investment policy to “invest a part of our cash or future loans and equity in bitcoin.” That step was unanimously approved by its board.
“We have not set the maximum bitcoin that we can deposit, and we can sell whatever bitcoin we can get,” the gamestop said.
Trump Media announced a $ 2.5B deal to create bitcoin treasury
Video game retailer, which was operated More than 3,200 stores Globally, in early February, has been struggling in recent years.
A gamestop store in New York City is seen on March 4, 2024. (Through Shelby Knowles / Bloomberg Getty Image / Getty Image)
Its market capitalization was around $ 14.3 billion till Wednesday.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | Gamestop Corp. | 29.80 | +0.23 |
+0.78% |
