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GameStop’s stock plummeted 22% after announcing a $1.75 billion convertible bond offering. CEO Ryan Cohen clarified the company isn’t following others’ Bitcoin strategies, raising transparency concerns among investors.
- GameStop's stock fell 22% after announcing a $1.75 billion convertible bond offering, with proceeds intended for general corporate purposes and potential crypto investments.
- CEO Ryan Cohen stated the company isn't following others' Bitcoin strategies and won't telegraph future purchases, despite holding 4,710 BTC.
- Critics, including Strive CEO Matt Cole, accuse GameStop of lacking transparency in its Bitcoin treasury strategy, calling it a 'black box.'
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