Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
GameStop Corp. is reportedly preparing to make a substantial Bitcoin acquisition, potentially amounting to $1.5 billion, following a capital raise completed on April 1. The video game retailer has raised over $5 billion in cash and is considering allocating a portion of these funds to Bitcoin. However, there remains internal disagreement among GameStop stakeholders regarding the timing and strategy of the Bitcoin purchase, according to Strive CEO Matt Cole. Despite the raised capital and proposals for investment in cryptocurrency, the company has yet to finalize its decision. Market analysts note that GameStop's stock price is currently showing mixed technical signals, with expectations of a potential pullback to around $22 in the near term.
GameStop is at the top of the wedge. I know people are expecting $GME to breakout in May, but that's still unclear. Money flow is in a rising wedge, unlike 2020 when it was in a descending wedge. Either way, looks like it will be pulling back to $22 over the coming month. https://t.co/6wJtNflD3u
GameStop has been struggling to make a decision about their Bitcoin purchase. It completed a $1.5B raise on April 1st and has been in discussion about allocating its $5B+ cash to Bitcoin since. Earlier this year, @ColeMacro from @StriveFunds submitted a formal proposal urging https://t.co/b5yttxneJL
When will GameStop buy Bitcoin after raising $1.5 billion for the move? Strive CEO Matt Cole says there's still internal debate over the strategy within the video game retailer. https://t.co/nDWtMAPKOY