GameStop has completed the issuance of convertible bonds raising $1.5 billion. A portion of these funds will be used for purchasing Bitcoin and other corporate needs.

On March 25, the company’s management approved this strategy.

According to a filing with the SEC, GameStop initially aimed to raise $1.3 billion, but investors took the option to purchase an additional $200 million in bonds.

The bonds issued in this offering are convertible into GameStop shares (GME) in the future and are due for redemption in 2030. The conversion rate is 33 shares for every $1,000 of principal debt.

Additionally, GameStop plans to allocate some of the funds for investments in digital assets, including the stablecoin USDT.

The company reports that its reserves have increased more than fivefold over the past year, reaching $4.7 billion as of February 2025.

After the announcement about plans to invest in crypto assets, GameStop’s stock price rose nearly 12% to $28.36 on March 26, but the following day, it dropped by 24% to $21.68.