GameStop Corp.再次引起海浪，这次是高风险的加密货币

GameStop Corp.再次引起海浪，这次以高风险转移到加密货币中。这家挣扎的视频游戏零售商计划将13亿美元的可转换债券出售给比特币购买

GameStop Corp. (NYSE:GME) is venturing into cryptocurrency once again, aiming to sell $1.3 billion in convertible bonds to finance Bitcoin purchases, adopting a strategy popularized by MicroStrategy (NASDAQ:MCR).

GameStop Corp.（NYSE：GME）再次冒险进入加密货币，旨在将13亿美元的可转换债券出售给融资比特币购买，采用由MicroStrategy（Nasdaq：MCR）推广的策略。

The struggling video game retailer plans to add Bitcoin as a treasury reserve asset, shifting its financial strategy.

这家挣扎的视频游戏零售商计划将比特币作为国库券储备资产，从而改变其财务策略。

This move follows a report by The Block, which stated that investors appear to be growing more cautious regarding companies using bond sales to fund Bitcoin purchases.

此举遵循该街区的一份报告，该报告称投资者对使用债券销售资金购买比特币购买的公司似乎越来越谨慎。

Investors were more receptive when MicroStrategy launched its Bitcoin-backed bonds in late 2024. However, recent offerings from the firm have seen decreased demand, leading to adjustments in the bond terms.

当MicroStrategy在2024年底推出了其比特币支持的债券时，投资者更加接受。但是，该公司最近的产品的需求减少，导致债券条款的调整。

In November, MicroStrategy sold $1 billion in convertible bonds with a 55% conversion premium.

11月，MicroStrategy以55％的转换保费出售了10亿美元的可转换债券。

This premium has now decreased to 35% and 40% for GameStop’s bonds, which will mature in 2030.

GameStop的债券现在已降至35％和40％，这将在2030年成熟。

The bonds are also convertible into shares of GameStop’s common stock at a price per share of $81.63, and they will pay a coupon rate of 0%.

这些债券还可以以每股81.63美元的价格转换为GameStop普通股的股票，他们将支付0％的息票利率。

The video game retailer’s move comes as it battles its own struggles.

视频游戏零售商的举动是在与自己的斗争作斗争的过程中。

GameStop’s fourth-quarter revenue sank 28% to $1.28 billion, lagging behind analysts’ estimates of $1.3 billion.

GameStop的第四季度收入下跌了28％至12.8亿美元，落后于分析师的估计13亿美元。

Sales of hardware, accessories, and software also took a hit, declining by 27%, 27%, and 26%, respectively.

硬件，配件和软件的销售也受到了打击，分别下降了27％，27％和26％。

Despite the bleak report, investors are anticipating a turnaround in the second half of 2024 as the company rolls out its new subscription service, Gamepass.

尽管报告了惨淡的报告，但由于该公司推出了新的订阅服务GamePass，投资者预计在2024年下半年会有转机。

GameStop isn’t selling new shares to raise cash. Instead, it’s pulling in $1.3 billion through convertible bonds.

GameStop没有出售新股份来筹集现金。相反，它通过可转换债券赚了13亿美元。

That way, shareholders don’t immediately feel the impact, but it also means the company is betting big on Bitcoin’s price swings. If Bitcoin makes a strong comeback, this could be a smart play. If not, GameStop might find itself in an even tougher spot financially.

这样，股东就不会立即感受到影响，但这也意味着该公司在比特币的价格波动上大放异彩。如果比特币强烈卷土重来，这可能是一场明智的游戏。如果没有，GameStop可能会发现自己在财务上更加艰难。

As more businesses follow this Bitcoin-backed funding approach, it will be interesting to see how long it takes for regulators to intervene.

随着越来越多的企业遵循这种支持比特币支持的资金方法，查看监管机构干预需要多长时间会很有趣。