GameStop has raised an additional $450 million, increasing its total fundraising to $2.7 billion, which it can use to purchase Bitcoin. Following a prior investment of $512 million in Bitcoin in May, this recent raise follows the completion of a convertible notes offering. The SEC filing indicates that while the net proceeds are earmarked for general corporate purposes, the company’s policy allows for investments in Bitcoin. CEO Ryan Cohen has suggested that GameStop is not following any specific investment strategy like MicroStrategy's but implies that future Bitcoin purchases remain a possibility. Despite these moves, GameStop shares have dropped significantly since its Bitcoin endeavors began. The firm has also announced plans to use convertible notes to bolster its Bitcoin investments while exploring corporate investment strategies consistent with their policies.

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