GameStop Corp.（NYSE：GME）做出了大膽而有爭議的舉動

GameStop Corp.（NYSE：GME）已大膽而有爭議的舉動，宣布將籌集13億美元

GameStop Corp (NYSE:GME) shares soared on Thursday after the struggling video game retailer announced a bold move to raise $1.3 billion through zero-coupon convertible bonds and use the proceeds to purchase Bitcoin (BTC-USD) as a treasury reserve asset.

GameStop Corp（NYSE：GME）股票在周四飆升，此前這家掙扎的視頻遊戲零售商宣布了大膽的舉動，通過零企業敞篷兌換債券籌集了13億美元，並利用收益購買比特幣（BTC-USD）作為財政部儲備資產。

The announcement initially sent GME shares soaring by 14%, as retail traders on platforms like Reddit’s WallStreetBets jumped on the meme-stock frenzy. However, the rally was short-lived. Within 24 hours, the stock plunged by nearly 25%, erasing all its gains and then some, as skepticism took hold.

該公告最初使GME股票飆升14％，因為Reddit的Wallstreetbets等平台上的零售商人跳上了模因庫存Frenzy。但是，集會是短暫的。在24小時內，該股票猛增了近25％，隨著懷疑論的持續發展，淘汰了所有收益，然後撤出了一些股票。

GameStop's Pivot to Bitcoin: Desperation or Strategy?

GameStop對比特幣的樞紐：絕望還是策略？

Known for its brick-and-mortar stores, GameStop has been battling declining sales and store closures. In the past year alone, the company shut down roughly a quarter of its retail locations as sales dropped by 28% year-over-year.

GameStop以其實體店而聞名，與銷售和關閉商店的關閉作鬥爭。僅在過去的一年中，該公司就會關閉其零售地點的四分之一，因為銷售額同比下降了28％。

With its core business deteriorating, GameStop is now betting on Bitcoin to revive its fortunes. Management claims this move is part of a strategy to optimize returns and maintain liquidity. By shifting a portion of its treasury into Bitcoin, GameStop hopes to capitalize on the cryptocurrency's potential long-term appreciation.

GameStop隨著核心業務的惡化，現在正在押注比特幣以恢復其命運。管理層聲稱，這一舉動是優化回報和維持流動性的戰略的一部分。通過將其部分財政部轉移到比特幣中，GameStop希望利用加密貨幣的潛在長期欣賞。

However, the timing of the move has raised eyebrows. Crypto markets have already surged by 27% since November 2024, making some analysts question why GameStop is entering now, rather than before the recent run-up.

但是，這一舉動的時機引起了人們的注意。自2024年11月以來，加密貨幣市場已經飆升了27％，這使一些分析師質疑GameStop現在正在進入，而不是在最近的比賽之前進入。

Critics argue that the company is arriving late to the party, potentially exposing itself to the volatility and unpredictability of Bitcoin prices. They also add that investors may be overreacting to a move that is more desperate than ingenious.

批評家認為，該公司已經到達該黨，有可能暴露於比特幣價格的波動性和不可預測性。他們還補充說，投資者可能反應過度，而不是巧妙的舉動。

A MicroStrategy Copycat Move?

MicroStrategy模仿者移動？

GameStop's Bitcoin pivot draws clear parallels to MicroStrategy (NASDAQ:MSTR), which famously adopted a Bitcoin-based treasury strategy in 2020. MicroStrategy's gamble paid off handsomely, with its stock price skyrocketing as the value of its Bitcoin holdings surged.

GameStop的比特幣樞軸與MicroStrategy（NASDAQ：MSTR）明顯相似之處，該比特幣在2020年在2020年採用了基於比特幣的財政策略。 MicroStrategy的賭博賭博巨大，其股價飆升，因為其比特幣持有的價值飆升。

However, analysts point out that GameStop is not in the same financial position. MicroStrategy has a substantial Bitcoin reserve and trades at a tighter premium, whereas GameStop's core business is in decline. Investors are worried that this move may be more of a risky roll of the dice than a calculated reinvention.

但是，分析師指出，GameStop不處於同一財務狀況。 MicroStrategy擁有大量的比特幣儲備，並以更嚴格的溢價進行交易，而GameStop的核心業務正在下降。投資者擔心，這一舉動可能比重新發明的骰子更具風險。

Investor Reaction and Market Volatility

投資者的反應和市場波動

The initial market reaction to GameStop's Bitcoin announcement was explosive. GME shares surged by 14% in the morning session as the announcement sparked huge interest among retail traders.

GameStop公告的最初市場反應是爆炸性的。由於該公告引起了零售商人的巨大興趣，GME股票在早晨會議上飆升了14％。

However, the rally quickly fizzled out. By 2:07 pm ET on Thursday, March 28, the stock had plunged by nearly 24%, wiping out the previous day's gains.

但是，集會很快消失了。到3月28日星期四，美國東部時間下午2:07下午2:07，該股票跌倒了近24％，消除了前一天的收益。

Analysts attribute the sharp sell-off to growing skepticism. While retail investors briefly embraced the excitement, institutional players were quick to question the long-term viability of GameStop's move.

分析師將敏銳的拋售歸因於日益增長的懷疑。儘管散戶投資者短暫地接受了興奮，但機構參與者很快就質疑GameStop舉動的長期可行性。

The heavy sell-off indicates that the market views GameStop's Bitcoin play as a high-risk gamble rather than a transformative strategy. Only time will tell if this bold bet pays off for the struggling retailer.

大量拋售表明，市場將GameStop的比特幣視為高風險賭博而不是變革性策略。只有時間才能證明這個大膽的背叛是否為掙扎的零售商付出了回報。

GameStop's Challenges Beyond Bitcoin

GameStop的挑戰超越了比特幣

Even with its new Bitcoin bet, GameStop faces major challenges. The company's sales have been declining steadily, and it has been forced to close a significant number of stores in recent years.

即使有了新的比特幣押注，GameStop還是面臨重大挑戰。該公司的銷售量一直在穩步下降，近年來被迫關閉大量商店。

As the retail footprint shrinks and investor confidence wanes, GameStop is attempting to pivot in a last-ditch effort to survive. However, some analysts believe that the move may be more desperate than ingenious.

隨著零售足蹟的縮小和投資者的信心減弱，GameStop試圖在最後的努力中進行生存。但是，一些分析人士認為，此舉可能比巧妙更迫切。

What Lies Ahead for GameStop?

GameStop面臨什麼？

GameStop's decision to use zero-coupon convertible bonds for the Bitcoin purchase gives it some flexibility but also carries implications for shareholders.

GameStop決定將零企業轉換債券用於比特幣購買的決定使其具有一定的靈活性，但也對股東產生了影響。

The bonds will offer no interest payments but are convertible into shares at a price of $18 per share, which could result in future shareholder dilution.

這些債券將不提供利息支付，但可以以每股18美元的價格轉換為股票，這可能會導致未來的股東稀釋。

For GameStop's strategy to pay off, Bitcoin would need to appreciate significantly. If the crypto market experiences another major bull run, GameStop could benefit as the value of its treasury investment increases.

為了獲得GameStop的恢復策略，比特幣需要非常重要的是。如果加密貨幣市場經歷了另一種主要的公牛奔跑，則GameStop可能會受益，因為其國庫投資的價值增加。

However, if Bitcoin prices stagnate or fall, the retailer's financial woes could deepen, likely causing further turbulence in the meme-stock sphere and shaking investor confidence.

但是，如果比特幣價格停滯不前或跌倒，零售商的財務困境可能會加深，可能會導致模因領域的進一步動盪並震驚投資者的信心。