Bitcoin News: GameStop Plans to Add $1.5 Billion in Bitcoin to Its Balance Sheet

GameStop, a retailer known for its video game sales, has made a significant move into the world of cryptocurrency. Here’s what you need to know.

GameStop Has $1.5B of Bitcoin Buying Power

GameStop, the video game retailer led by CEO Ryan Cohen, has closed on its offering of $1.3 billion of five-year convertible notes, with the $200 million greenshoe option fully exercised, bringing the total to $1.5 billion. The net proceeds to the company after fees were $1.48 billion. Alongside its fourth quarter earnings report, GameStop announced full board approval to add Bitcoin (BTC) to its balance sheet. GME shares rose 1.35% during the regular session on Monday and are up another 0.8% in after-hours trading.

Tether Increases Bitcoin Holdings by $735M

Tether, a leading crypto company and provider of USDT, has increased its Bitcoin holdings by purchasing 8,888 BTC worth $735 million on March 31st. This brings its total Bitcoin holdings to 100,521 BTC, valued at $8.29 billion. The purchase was highlighted by data released from Arkham Intelligence. Additionally, Tether has expanded its holdings beyond cryptocurrency by increasing its stake in Adecoagro, a Latin American agricultural firm, to 70% and plans to acquire a 30% stake in an Italian media company.

Nansen: Crypto Eyes ‘Good News’ Amid Fragile Market Psychology

Nansen Research has highlighted macroeconomic factors and cues this week that could confirm the probability of a crypto bottom between April and June. Aurelie Barthere, the principal researcher at Nansen, noted that key data releases and policy announcements, dubbed ’Liberation Week’, could provide an indicator to the price trajectory of Bitcoin (BTC) and crypto. Investors will focus on Federal Reserve policy, tariffs, and U.S. growth signals such as manufacturing and jobs data.

Will Michael Saylor pull the rug? MicroStrategy’s massive Bitcoin bet.

On Mar. 31, 2025, MicroStrategy (formerly known as Strategy) bought $2 billion worth of bitcoins. The company now holds 528,185 BTC, representing over 2.5% of the total Bitcoin supply. While Michael Saylor, the frontman of MicroStrategy, is widely celebrated as the biggest Bitcoin bull, some consider him a potential threat to the Bitcoin network. Saylor became one of the most prominent Bitcoin advocates in the 2020s, relentlessly spending millions and billions of dollars on BTC. His company is among the top 10 Bitcoin holders and Saylor actively promotes Bitcoin on various platforms, sharing his views on its importance for America, other countries, institutions, and individuals. He also consults U.S. officials on Bitcoin and has expressed eagerness to work with them.

GameStop Completes $1.5 Billion Offering to Fund Bitcoin Reserve

Video game retailer GameStop has completed a $1.5 billion offering of convertible senior notes to investors. The company plans to use the proceeds to purchase Bitcoin to hold in its corporate treasury. GameStop first announced its Bitcoin plans last week and has now raised the full amount, including an additional $200 million worth of notes sold as per the initial filing with the SEC. The sale left GameStop with about $1.48 billion in net proceeds.