Gamestop $ 10.7 million in GME will buy after paying Bitcoin

Ryan Cohen, CEO of Gamestop, bought $ 10.7 million in GME shares, eight days after the video game retail announced its plans Add bitcoin to the Treasury Reserve.

Cohen bought 500,000 GME category A. foot On April 3 with the Securities Exchange Committee. The executive authority now has 8.4 % of the shares issued by Gamestop, or 37,347,842 shares.

Gamestop closed at $ 23.49 on Friday, an increase of more than 11 %. The shares have decreased by 50 % since June 6, a day before “Roaring Kitty, ′ Back online For the first time in three years to exchange a screenshot of GME.

The purchase comes after Gamestop has revealed plans to pour corporate money in Bitcoin, taking a signal from the Michael Saylor strategy. In a statement, the company said it aims to raise $ 1.3 billion for the purpose of buying bitcoin by selling convertible upper notes, which will mature in 2030.

The Gamestop Plan makes one of many public companies to adopt a playing book that focuses on Bitcoin in the strategy in recent months, although the value of the distinctive symbol has decreased by 23 % of its high price at all $ 108,000. Bitcoin has been trading recently over $ 84100, an increase of 3 % over the past 24 hours-a rare optimistic note between the assets of the risks that fell after the US trade tariff Donald Trump.

The retail seller is preparing to pick up bitcoin as he continues to conflict with consumers’ request across most groups.

Gamestop sales decreased around 28 % during the past three months of 2024 compared to the wonderful quarter, according to the latest quarterly profits of the company statement. Cooling sales follow a 12 % chip in the company’s annual revenue to $ 10.546 billion during a three -year period ending in 2024.

Amid the decline in its sales, Gamestop announced last month that it would close a “large number” of brick and mortar stores.

Edited by James Robin