GameStop Corp. (NYSE: GME) has announced plans to raise $1.3 billion through a private offering of convertible senior notes, with a portion of the proceeds earmarked for acquiring Bitcoin (BTC).  

Investment Policy Update and Funding Plans

On Tuesday, GameStop’s board of directors unanimously approved the update to its investment policy, enabling the gaming retailer to allocate capital into Bitcoin. The company disclosed its funding plan in a Wednesday press release, stating:

“GameStop expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin in a manner consistent with GameStop’s Investment Policy.”

The move aligns with strategies employed by other corporations, most notably Michael Saylor’s Strategy …