Gamestop offers $56B to buy Ebay, using $519M in bitcoin assets to back the bid.

Gamestop has made an unsolicited $55.5 billion offer to acquire Ebay at $125 per share, backed by $20 billion in bank financing and a $519 million bitcoin treasury built during fiscal 2025. CEO Ryan Cohen sees Ebay as a strong competitor to Amazon and is ready to launch a proxy fight if Ebay's board rejects the offer. Gamestop's bitcoin holdings, acquired through 4,710 BTC purchases, play a key role in financing this large acquisition bid. The market reacted positively, with Gamestop and Ebay shares rising sharply after the news.