Source: Cointelegraph Original: "{title}"
GameStop's stock price rose nearly 12% on March 26, after the company announced plans to purchase Bitcoin. The company plans to finance this purchase through debt. After the market closed on March 26, GameStop announced a $1.3 billion convertible note issuance plan. These convertible senior notes—a type of debt that can be converted into equity—will be used for general corporate purposes, including the purchase of Bitcoin, according to the company's statement. "GameStop expects to use the net proceeds from this offering for general corporate purposes, including acquiring Bitcoin in a manner consistent with GameStop's investment policy," the statement read. The company revealed on March 25 that it plans to use part of its cash or future debt to purchase digital assets, including Bitcoin and dollar-pegged stablecoins. GameStop's cash reserves as of February 1 were $4.77 billion, compared to $921.7 million a year ago. According to Google Finance data, GameStop's stock price closed at $28.36 on the New York Stock Exchange, up 11.65% on the day.
March 26 GameStop stock performance. Source: Google Finance
The company reported a net income of $131.3 million for the fourth quarter of 2024, an increase from $63.1 million in the fourth quarter of the previous year. Although the company's annual revenue decreased by $511 million, GameStop is working to improve its financial situation by significantly cutting expenses, including closing 590 stores in the U.S. in 2024.
GameStop was at the center of the "meme stock" craze in 2021, when retail investors organized a "short squeeze" that drove the stock price up, leading to the collapse of some hedge funds that suffered losses during the squeeze, making GameStop's stock a symbol of "David vs. Goliath."
More companies adopting Bitcoin reserve strategies
GameStop is following the lead of Strategy, which first incorporated Bitcoin into its financial reserves in August 2020. As of December 2024, Strategy's stock has risen 3200% since adopting the cryptocurrency strategy.
Metaplanet, a Japanese company, plans to purchase 21,000 Bitcoins by 2026, and its stock price has risen 4800% since announcing this plan. In promotional materials, Metaplanet stated that it has attracted a large number of new investors, with its market capitalization increasing by 6300%.
Semler Scientific also saw a significant rise in its stock price after announcing plans to purchase Bitcoin.
According to CoinGecko, there are currently 32 publicly traded companies that have incorporated Bitcoin into their balance sheets.
Related: Brazil maintains cryptocurrency compensation ban related to the World ID project.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
