GameStop, the US video game and consumer electronics retailer, has officially entered the world of Bitcoin by acquiring 4,710 Bitcoin. The company made this announcement on May 28 through its X account, without disclosing the exact amount paid for the cryptocurrency. The purchase, valued at around $513 million, marks GameStop's initial foray into Bitcoin investment since revealing its intentions in March. The company plans to finance this move through debt financing and a $1.3 billion convertible notes offering. GameStop's stock shares have seen a surge amidst rumors and speculation, with a 30% increase in the past month. This development follows a trend of companies, including Trump Media and Technology Group, investing in Bitcoin. The move signifies a growing interest in cryptocurrencies among traditional businesses, with GameStop joining the ranks of firms diversifying their portfolios with digital assets. Read more AI-generated news on: https://app.chaingpt.org/news

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