Atari Group has unveiled a proposal to issue discounted warrants aimed at funding a potential $5.32 billion Bitcoin purchase through subsidiary Beat Holdings. The gaming and blockchain conglomerate seeks to significantly expand its cryptocurrency asset portfolio via this strategic move.
Holding a 33.3% stake in Beat Holdings, Atari plans to issue 5,400 warrants priced at a 7.5% discount to market value. Proceeds would facilitate Bitcoin acquisitions that could total approximately 53,227 BTC, substantially boosting Beat Holdings’ position in the cryptocurrency market.
Beat Holdings has expressed reservations about the proposed discount rate, citing potential impacts on shareholder value. The company is evaluating alternative financing options to balance capital-raising objectives with investor interests.
The initiative reflects accelerating institutional adoption of Bitcoin as a treasury asset, mirroring strategies pioneered by firms like MicroStrategy. Bitcoin’s market dominance remains robust at 63.65%, reinforcing its status as a preferred institutional investment vehicle.