GameStop, an American video game retailer, has confirmed that it holds Bitcoin
The company announced on May 28 through its official X account by revealing that it had purchased 4,710 BTC. This is the first time GameStop has publicly disclosed owning any Bitcoin.
While the announcement confirmed the size of the purchase, it did not include details on when the transactions took place or how much was paid per coin. A separate regulatory filing with the US Securities and Exchange Commission (SEC) also kept these figures unclear.
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At the time of the announcement, the total value of Bitcoin was around $513 million.
The purchase follows a previous statement from GameStop on March 26, when it shared plans to invest in Bitcoin. To fund the purchase, the company issued $1.3 billion worth of convertible notes. These are a form of debt that can later be turned into company shares.
GameStop had said at the time that the funds would help support its entry into the cryptocurrency market.
With this purchase, GameStop joins a number of companies that are adding Bitcoin to their balance sheets.
On May 12, Metaplanet, a Japanese investment firm, announced that it had purchased 1,241 BTC at a price of around ¥14.8 million per coin, equivalent to around $101,843. What did the company say about it? Read the full story.
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