It is possible that Bitcoin (BTC) purchases from video game retailer GameStop (GME) could be on the horizon, or they may have already commenced following the closure of its offering of $1.3 billion of five-year convertible notes.
The initial purchaser fully exercised the $200 million greenshoe option, bringing the total sale amount to $1.5 billion. After deducting fees, the net proceeds to the company amounted to $1.48 billion, as stated in a filing on Monday after the close of U.S. trading.
GameStop, under the leadership of CEO Ryan Cohen, announced alongside its fourth quarter earnings report last week that the full board has approved an update to the company’s investment policy to include bitcoin in the GME balance sheet.
During Monday’s regular session, GME shares saw a 1.35% increase, with an additional 0.8% rise in after-hours trading. Meanwhile, Bitcoin has seen a modest increase over the past 24 hours, reaching $84,900.
