GameStop Corp.（NYSE：GME）做出了大胆而有争议的举动

GameStop Corp.（NYSE：GME）已大胆而有争议的举动，宣布将筹集13亿美元

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）股票在周四飙升，此前这家挣扎的视频游戏零售商宣布了大胆的举动，通过零企业敞篷兑换债券筹集了13亿美元，并利用收益购买比特币（BTC-USD）作为财政部储备资产。

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.

该公告最初使GME股票飙升14％，因为Reddit的Wallstreetbets等平台上的零售商人跳上了模因库存Frenzy。但是，集会是短暂的。在24小时内，该股票猛增了近25％，随着怀疑论的持续发展，淘汰了所有收益，然后撤出了一些股票。

GameStop's Pivot to Bitcoin: Desperation or Strategy?

GameStop对比特币的枢纽：绝望还是策略？

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以其实体店而闻名，与销售和关闭商店的关闭作斗争。仅在过去的一年中，该公司就会关闭其零售地点的四分之一，因为销售额同比下降了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随着核心业务的恶化，现在正在押注比特币以恢复其命运。管理层声称，这一举动是优化回报和维持流动性的战略的一部分。通过将其部分财政部转移到比特币中，GameStop希望利用加密货币的潜在长期欣赏。

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，这一举动的时机引起了人们的注意。自2024年11月以来，加密货币市场已经飙升了27％，这使一些分析师质疑GameStop现在正在进入，而不是在最近的比赛之前进入。

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.

批评家认为，该公司已经到达该党，有可能暴露于比特币价格的波动性和不可预测性。他们还补充说，投资者可能反应过度，而不是巧妙的举动。

A MicroStrategy Copycat Move?

MicroStrategy模仿者移动？

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的比特币枢轴与MicroStrategy（NASDAQ：MSTR）明显相似之处，该比特币在2020年在2020年采用了基于比特币的财政策略。MicroStrategy的赌博赌博巨大，其股价飙升，因为其比特币持有的价值飙升。

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，分析师指出，GameStop不处于同一财务状况。 MicroStrategy拥有大量的比特币储备，并以更严格的溢价进行交易，而GameStop的核心业务正在下降。投资者担心，这一举动可能比重新发明的骰子更具风险。

Investor Reaction and Market Volatility

投资者的反应和市场波动

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公告的最初市场反应是爆炸性的。由于该公告引起了零售商人的巨大兴趣，GME股票在早晨会议上飙升了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，集会很快消失了。到3月28日星期四，美国东部时间下午2:07下午2:07，该股票跌倒了近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.

分析师将敏锐的抛售归因于日益增长的怀疑。尽管散户投资者短暂地接受了兴奋，但机构参与者很快就质疑GameStop举动的长期可行性。

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.

大量抛售表明，市场将GameStop的比特币视为高风险赌博而不是变革性策略。只有时间才能证明这个大胆的背叛是否为挣扎的零售商付出了回报。

GameStop's Challenges Beyond Bitcoin

GameStop的挑战超越了比特币

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.

即使有了新的比特币押注，GameStop还是面临重大挑战。该公司的销售量一直在稳步下降，近年来被迫关闭大量商店。

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.

随着零售足迹的缩小和投资者的信心减弱，GameStop试图在最后的努力中进行生存。但是，一些分析人士认为，此举可能比巧妙更迫切。

What Lies Ahead for GameStop?

GameStop面临什么？

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

GameStop决定将零企业转换债券用于比特币购买的决定使其具有一定的灵活性，但也对股东产生了影响。

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.

这些债券将不提供利息支付，但可以以每股18美元的价格转换为股票，这可能会导致未来的股东稀释。

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.

为了获得GameStop的恢复策略，比特币需要非常重要的是。如果加密货币市场经历了另一种主要的公牛奔跑，则GameStop可能会受益，因为其国库投资的价值增加。

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，如果比特币价格停滞不前或跌倒，零售商的财务困境可能会加深，可能会导致模因领域的进一步动荡并震惊投资者的信心。