Ryan Cohen

Cohen explained why the company bought 4,710 Bitcoin.

GameStop Corp. announced plans to raise $1.3 billion through a private offering of convertible senior notes, with proceeds intended for general corporate purposes, including the acquisition of Bitcoin. This follows the company’s recent decision to update its investment policy to add Bitcoin as a treasury reserve asset.

GameStop has updated its investment policy to include Bitcoin as a treasury reserve asset, but has yet to disclose the amount of Bitcoin it plans to acquire.