Gamestop (GME) shares are returning to normal levels today after a first rally about the announcement of fundraising plans to buy Bitcoin (BTC).
Yesterday, Gamestop announced A proposed private offer of $ 1.3 billion in convertible senior notes with plans to use the funds to buy the crypto king.
“Gamestop expects to use the net revenue of the offer for general business purposes, including the acquisition of Bitcoin in a way that is consistent with Gamestop’s investment policy.”
GME gathered 14%yesterday, after the news of the company’s board that approved the BTC Treasury strategy, which was set out on Tuesday in a US Securities and Exchange Commission (SEC) request.
“The board approved the addition of Bitcoin as a treasury reserve assets, in addition to US dollar-generated stablecoins, to diversify the investment portfolio of the company … Part of our cash and sharing expenditure can be invested in Bitcoin.
We have not set a maximum amount of Bitcoin that we can collect and can sell any bitcoin that we can acquire. “
Nowadays Gme fell back to earth, retreating At about the same value as five days ago.
GME is worth $ 24.21 at the time of writing, with 14.6% in the day. BTC increased by 0.7%in the same period, currently for $ 87,310.
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Featured image: Shutterstock/Digital_art/Sensvector