A recent report indicates that GameStop has fully transferred its 4,710 Bitcoin holdings to Coinbase Prime, drawing widespread attention across the industry. The current market value of these bitcoins is approximately $422 million, and speculation is growing that this move could signal the company’s intention to sell its cryptocurrency assets.
Potential Sale and Projected Losses
Analysts have interpreted this transfer as a likely precursor to a sale. Historical data reveals that GameStop acquired the bulk of its Bitcoin holdings in May this year at an average price of around $107,900 per coin. If the company sells the entire amount at the current price of approximately $90,800, it could face a paper loss of about $76 million.
No Official Statement Yet
Despite rising speculation, GameStop has not publicly commented on whether it plans to sell its Bitcoin holdings. Investors and industry watchers are closely monitoring the company's next steps for clues regarding its broader cryptocurrency strategy.
- Amount transferred: 4,710 BTC
- Current valuation: ~$422 million
- Average purchase price: $107,900
- Potential loss: ~$76 million