GameStop's $55.5 billion eBay takeover bid puts its $368 million bitcoin stash in the crosshairs
CoinDesk
GameStop's proposed $55.5 billion acquisition of eBay has sparked speculation regarding whether the company will sell its $368 million bitcoin holdings for funding.Summary
GameStop has submitted a non-binding $55.5 billion bid to acquire the online marketplace eBay, representing a 46% premium on share prices. To fund this massive expansion, the video game retailer plans to utilize $9.4 billion in liquid assets and $20 billion in external financing. This proposal has prompted analysts to question if GameStop will liquidate its $368 million bitcoin stash to help cover acquisition costs, especially given CEO Ryan Cohen's previous comments suggesting crypto holdings could be used to fund a major deal. Currently, GameStop has not confirmed its plans for its bitcoin assets, which are partially managed through a covered-call options strategy on Coinbase Prime.
(Source：CoinDesk)