INSUBCONTINENT EXCLUSIVE:
GameStop shares have traded sideways despite another $450 million raise as part of its private convertible note offering for investments,
which could include Bitcoin.The retailer disclosed to the US Securities and Exchange Commission on Monday that someone who opted into the
initial $2.25 billion note offering has decided to purchase an additional $450 million.The funds have been earmarked for general corporate
purposes, including investments and potential acquisitions
Bitcoin trading at roughly $108,000, if GameStop used the full $450 million for Bitcoin purchases, it could nearly double its existing
data shows GameStop shares (GME) dropped from an opening price of $23.03 down to a low of $22.45, representing a 2.5% drop.The stock price
has recovered slightly and is up over 1.8% in the last five days, trading at $23.55 after the closing bell on Wednesday; however, it has
announcing it was buying half a billion dollars worth of Bitcoin
up to 22% after announcing Bitcoin buy plans.Indonesian fintech firm DigiAsia Corp stock also saw a spike of 91% and Paris-based crypto
Cointelegraph, Vincent Liu, the chief investment officer at Kronos Research, said that while companies are adopting Bitcoin to diversify
previously made forays into the crypto space with a crypto wallet for its users, which it eventually shut down in November 2023 due to
regulatory uncertainty.It launched an NFT marketplace, which was also eventually shuttered in January 2024, due to similar concerns about
regulatory uncertainty.GameStop is also considered the first example of meme stock success after a short squeeze in 2021 sent the stock
surging over 1,000% in a month as traders flipped the table on hedge funds that had been making money shorting on the company.Magazine:
