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The Independent UK

National

Damian J. Troise

GameStop slumps as its plan to sell debt to fund bitcoin purchases raises some questions

GameStop Bitcoin Keith Gill Michael Pachter Wedbush

GameStop-Shares - (Copyright 2024 The Associated Press. All rights reserved.)

GameStop shares sunk Thursday after its plan to sell debt in an effort to fund purchases of bitcoin raised some questions on Wall Street.

The video game retailer announced a private offering of $1.3 billion in debt. The company said earlier this week that it plans to purchase bitcoin as a reserve asset. It will use proceeds from this debt offering to buy the cryptocurrency.

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