Bitcoin (BTC) purchases from video game retailer GameStop (GME) could be imminent or may have already begun after the company closed on its offering of $1.3 billion of five-year convertible notes.
The $200 million greenshoe option was fully exercised by the initial purchaser, bringing the total amount of the sale to $1.5 billion. Net proceeds to the company after fees were $1.48 billion, according to a filing Monday after the close of U.S. trading.
Alongside its fourth quarter earnings report last week, GameStop — led by its CEO Ryan Cohen — announced full board approval of an update to the company investment policy to add bitcoin to the GME balance sheet.
GME shares rose 1.35% during the regular session on Monday and are up another 0.8% in after hours action. Bitcoin remains modestly higher over the past 24 hours at $84,900.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Binance Research said a cluster of Bitcoin on-chain indicators is pointing toward tighter available supply…
Bitcoin’s bearish momentum hit hardest on the technical charts, with the cryptocurrency breaking below all…
Bitcoin Magazine White House Says Strategic Bitcoin Reserve Announcement Is Imminent: ‘A Breakthrough’ The White…
Bitcoin Magazine Capital B Acquires 192 Bitcoin for €13 Million, Pushes Total Holdings to 3,135…
Strategy made a mammoth $2 billion bitcoin purchase last week, but it's not lifting crypto…
The bank said accelerating advances in quantum computing are compressing the timeline for risks to…