Gamestop After the video game retailer announced plans for convertible notes of $ 1.75 billion, the stocks on Thursday offered to give a possible funding to their new bitcoin purchase strategy. The company also said that it would focus on the trading card market.

The retailer stated that it intends to use net income from offering notes for normal corporate purposes, “the gamestop’s investment policy and invested in a granted manner with potential acquisitions.”

A part of the investment policy is to add cryptocurrency to its balance sheet. Last month, gamestop Buy 4,710 bitcoins, More than half billion dollars.

The stock was reduced to 22.5%on Thursday’s trading.

Gamestop software company is running at the footsteps of Microstrategy, known as now strategyWhich bought billions of dollars bitcoins in recent years, which became the largest corporate holder of the flagship cryptocurrency. That decision inspired the growth for a rapid, unstable, strategy stock.

The strategy has released various forms of securities including convertible loans to fund its bitcoin purchase.

CEO Ryan Cohen recently stated that the decision of the gamestop to buy bitcoin is inspired by macro concerns as a digital coin, with its fixed supply and decentralized nature, can serve as protection from some risks.

The brick-end-mortar retailer on Tuesday recorded a decline in the financial first quarter revenue as online gaming was demanded. Its revenue fell by 17% to $ 732.4 million year after year.

The stocks fell 5% on Wednesday after those results. Wall Street looks uncertain. Video game retailer can mimic the success of the microstrate.

Wesbash analyst Michael Pachter His underperform rating repeats On Wednesday on gamestop, saying that meme stock has constantly designed to pay more than double the asset value for its shares on “Greater Fools”. The Vesabash analyst believes that the strategy of buying bitcoin is rarely understood as a company, already trading on 2.4 times cash, is unlikely to drive even more premium by changing more cash in crypto.

According to a transcript on the factset, Cohen said at the company’s annual meeting on Thursday that the gamestop is focusing on the trading card as a “natural expansion” of its existing business. He said that this market is inherent in physical retail and has a “high margin capacity”.

In the first quarter, the gamestop’s collectable revenue increased by 54% on a year-on-year basis, inspired by the growing demand of trading cards, especially, Pokémon Trading Card Game, said the company.

Data tracker Circle said its march Omnibus survey showed that 19% of adults have bought Pokémon trading cards for themselves in the last six months.

The majority are collecting cards as a hobby or for decoration, Circana said. The firm said that adults are helping toy sales, with demographic accounting for the highest expenses between all age groups in the first quarter.

,CNBC’s Christina Chedder Burke contributed to reporting.

Improvement: Gamestop shares fell 5% on Wednesday. An earlier version denied the percentage as wrong.