GameStop’s shares tumbled over 15% after the retailer announced a $1.75 billion convertible bond offering to fund its aggressive Bitcoin purchase strategy, mirroring moves by companies like MicroStrategy. Analysts express skepticism as the company faces declining revenues and market uncertainty.

A weekend photo posted by GameStop CEO Ryan Cohen with MicroStrategy’s Michael Saylor has led to a surge in their companies’ stock prices, fueling speculation that GameStop may revisit cryptocurrency initiatives.