Video game seller GameStop announced it has bought 4,710 bitcoins worth almost $513 million as part of its strategy to invest in cryptocurrency.
May 28 (UPI) -- Video game seller GameStop announced it has bought 4,710 bitcoins worth almost $513 million as part of its strategy to invest in cryptocurrency.
GameStop's board of directors in March announced its intent to invest in bitcoin to create a reserve asset, CBS News reported.
Officials for the video games retailer did not say when it bought the bitcoins.
Grapevine, Texas-based GameStop's board also announced it will raise $1.3 billion in debt to invest in bitcoin.
Related
GameStop purchased $500 million worth of Bitcoin last month.
The video game retailer announced plans for a $1.75 billion convertible notes offering to partially fund its bitcoin purchase.
GameStop just became the latest public company to invest in bitcoin.
Ryan Cohen wouldn't say whether he would sell GameStop's bitcoin to try to pull off a major acquisition.
GameStop's chief executive Ryan Cohen told the Wall Street Journal that he sees potential to make eBay a much bigger rival to…
GameStop has made a $55.5 billion offer to buy eBay, with the video game retailer's CEO saying the move could create a strong…
