Gamestop shares jumped approximately 12 % on March 26 after the company announced plans to buy Bitcoin (BTC).
The company plans to finance purchase through debt financing. After the markets were closed on March 26, Gamestop Declare A 2.3 billion dollar offer is converted.
The convertible higher notes – debts that can be converted later into royal rights – will be used for public companies, including obtaining bitcoin, according to the company's statement.
“Gamestop expects clear revenue from supply for public companies, including Bitcoin acquisition in a way that is consistent with Gamestop's investment policy.”
The company revealed on March 25 to plan to use a portion of its monetary debts or future debts to buy digital assets, including Bitcoin and American Stablecoins. Gamestop cash reserves amounted to $ 4.77 billion on February 1, compared to 921.7 million dollars one year ago.
According to Google Finance, Gamestop shares were closed at $ 28.36 on the New York Stock Exchange, which represents a profit of 11.65 % for this day.
Gamestop shares performance on March 26. Source: Google Financing
Company I mentioned A net income of $ 131.3 million for the fourth quarter 2024 compared to $ 63.1 million for the previous year Q4. Although net sales decreased $ 511 million on an annual basis, the company has reduced expenses strongly, including closing 590 stores across the United States in 2024.
Gamestop was once in the optimum of the year 2021 when retail traders coordination The “short pressure” that sent the share price. Some hedge funds were closed as a result of the losses that lasted during the short pressure, giving the arrow Meme to rise in the novel “David Vs. Goliath”.
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More companies adopt a bitcoin reserve strategy
Gamestop follows the strategy, which for the first time added Bitcoin to its wardrobe in August 2020. As of December 2024, the strategy shares have gained 3,200 % since the adoption of its encryption strategy.
Metaplanet, a Japanese company that has plans to buy 21000 BTC by 2026, has witnessed 4,800 % stock rates since this step was announced. In promotional materials, Metaplanet said it attracted a large number of new investors, with a high market value by 6300 %.
Semler Scientific also witnessed an increase in her share price after announcing Bitcoin plans.
According to To Coingecko, 32 companies circulated to the public hold BTC on their public budgets.
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