GameStop (GME) Prices Bitcoin (BTC) Senior Notes at $29.85



GameStop (GME) has priced its previously announced private offering of $1.3 billion in convertible senior notes, setting the stage for the company’s foray into having bitcoin (BTC) on its balance sheet.

The zero-coupon notes, due in 2030, will initially convert at a rate of 33.4970 shares per $1,000, representing an initial conversion price of approximately $29.85 per share.

GameStop (GME) closed at $22.09 at the end of the Thursday trading day in New York, putting the bitcoin notes at an approximately 35% premium over its most recent closing price.

Since announcing its BTC bond strategy, GME’s stock is down – over 22% during Thursday’s trading day – as investors approach this with skepticism despite CEO Ryan Cohen positioning this strategic shift toward bitcoin as a means to leverage the company’s sizeable cash reserves

Should the sale be successful and hit its targets, GME would be the fourth largest corporate holder of BTC, behind miner behind Riot Platforms (RIOT) and ahead of Tesla (TSLA).



  • Umair

    Muhammad Umair is a passionate content creator, web developer, and tech enthusiast. With years of experience in developing dynamic websites and curating engaging content, he specializes in delivering accurate, informative, and up-to-date articles across diverse topics. From gaming and technology to crypto and world news, Umair's expertise ensures a seamless blend of technical knowledge and captivating storytelling. When he's not writing or coding, he enjoys gaming and exploring the latest trends in the tech world.

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