GameStop has made a non-binding offer to acquire eBay for $55.5 billion, fueling speculation about the potential use of its $368 million bitcoin holdings to fund the deal. The company, which holds approximately $9.4 billion in cash and liquid investments, may need to utilize significant financial resources to complete the acquisition. With a 5% economic stake in eBay already, GameStop's bid represents a 46% premium to eBay's share price in early February.
The possibility of selling its bitcoin stash has been left open by CEO Ryan Cohen, who previously stated that the company's crypto holdings could be sold to fund a major acquisition. GameStop's bitcoin holdings, currently valued at $368 million, are part of its $9.4 billion balance sheet and could potentially be used to finance the deal. The company's plans for its bitcoin holdings remain uncertain, with no official comment provided on the matter.