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GameStop’s stock fell for a second consecutive day after announcing a $500 million Bitcoin purchase. The video game retailer’s shares dropped over 5%, erasing most of its weekly gains. Meanwhile, Bitcoin struggles to maintain its recent all-time high.
- GameStop acquired 4,710 Bitcoin worth $512 million, contributing to a 5% stock drop.
- The company raised $1.5 billion for its Bitcoin treasury initiative but avoided using cash reserves.
- Bitcoin's price has fallen 5% from its recent all-time high, affecting crypto-related stocks.
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