U.S.-based video game retailer GameStop has announced plans to raise a whopping $1.75 billion to bolster its strategic bitcoin (BTC) reserve, displaying further confidence in the world’s leading cryptocurrency despite recent volatility.
To achieve this, GameStop is embarking on a 0.00% convertible note offering due 2032 to qualified institutional investors in accordance with Rule 144A under the Securities Act of 1933. Notably, the offering is subject to market conditions and other underlying factors.
$1.75B into BTC
Based on the company’s recent release, the notes will be general unsecured obligations of GameStop. To attract more investors, the notes will not bear interest, and the principal amount of the notes will not accumulate or increase over time.
Commenting on how the firm intends to use proceeds from the convertible notes offering, the press release noted, “GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions.”
Notably, GameStop adopted a strategic BTC reserve in March 2025 and has since made the cryptocurrency its primary reserve asset to stabilize the company’s finances and boost its stock value over time. Its first bitcoin purchase was on May 28th, 2025, when it bought about 4,710 BTC to boost its stash.
Moreover, GameStop wants to grant early purchasers 13 days to purchase additional notes worth up to $250 million. This will allow initial investors to increase their investment, thus raising the company’s offering to $2 billion.
Pro-Crypto Firms Offer Convertible Notes
Notably, within the past few months, the world’s first bitcoin (BTC) company, Strategy (formerly MicroStrategy) adopted convertible notes offering as a fundraising strategy to gain additional capital from investors for its BTC reserve.
Notably, it was successful as Strategy now controls 582,000 BTC, approximately 2.8% of the total bitcoin supply. The firm has also embarked on a weekly BTC purchase streak, splashing funds into the crypto market to scoop up more BTC.
Meanwhile, Strategy’s BTC success is irresistible, as it has prompted many firms in the U.S. and other continents to adopt a BTC reserve.
