Gamestop joins Bitcoin Treasury Game

Gamestop returned to the main headlines, this time it has nothing to do with Roaring Kitty. During Q1 2025 profits a report This Tuesday, Gamestop reported that its council has agreed to add Bitcoin as the origin of the treasury reserve. This means that the company is now authorized to invest part of its cash or future debts in the sales in Bitcoin.

According to the latest 10k fileThe company is currently sitting on more than $ 4.7 billion of cash and cash rewards. It is a huge pile in relation to the size of its operations. The company achieved $ 120 million in operational income last year. The current monetary situation was a series of stock offers in time during one of the stock fluctuations episodes. During the year 2024, the short pressure dynamics paid the price much higher, allowing the company to issue shares, reduce subscribed shareholders by about 15 % and raise the company more than $ 3.4 billion in cash. In other words, the company sold shares to a rating of about $ 22.5 billion, and it is currently trading at approximately $ 10 billion. It was an opportunistic step to take advantage of a high share price and played very well at the company’s monetary center.

In addition to $ 4.7 billion, cash and cash rewards, the company also Declare A transfer can be issued by 0 % for $ 1.3 billion, with the possibility of expanding the offer to $ 1.5 billion. It is expected that the sale of the 1.3 billion dollar transfer observation will be completed by April 1, 2025, and the participants will have 13 days to practice their choice to invest up to 200 million dollars. The company expects to obtain net returns of $ 1.28 billion, or about $ 1.48 billion if more investment options are practiced.

Notes have a 5 -year period, maturity on April 1, 2030. The transfer price for notes is equivalent $ 29.85 per shareAnd, which represents an increase of 35 % over the closing price of the day of $ 22.09. This means that every $ 100,000 has been invested in observation, the investor can get 3350 shares from Gamestop if the shares reach or exceed the transfer price. If not, the note is first in a queue to get their full payment. Thus, the attractiveness of this observation lies in the option to convert the manager into shares if things go well for the company.

To give you a sense of the implicit return that the convertible observations get by converting to shares, a Contact option To buy a share of Gamestop at $ 30 on January 15, 2027 is trading for $ 8.08. This means that for every 100,000 dollars invested, which will lead to 3350 shares, the investor will get more than $ 27,000 in the “option value” (3,350 * 8.08 dollars). Keep in mind that the same option comes out until April 30, 2030 instead of January 15, 2027, it will be more valuable due to a longer period. Therefore, it is safe to assume that investors get the total implicit return of more than 30 % on their investments, or more than 6 % annually, if we specify the value of their choice to transfer it.

Looking at the company’s new investment policy, the company’s new investment policy, it should not be long until we hear about the first customization or purchase of Bitcoin. With this observation, Gamestop now joins the strategy, metaplanet, and Samara Asset Group as a company in public listed for the debt version to buy Bitcoin.