GameStop Confirms It Still Holds 4,710 BTC Worth Roughly $368M
GameStop Tuesday 10-Ok submitting to the SEC confirmed the corporate nonetheless holds 4,710 BTC value roughly $368 million, ending two months of hypothesis triggered by an onchain switch that seemed like a crypto sale however was really the setup for a covered-call revenue technique.
- Position confirmed: GameStop holds 4,709 BTC pledged as collateral on Coinbase Prime plus one BTC held straight, totaling 4,710 BTC — no sale occurred.
- Covered-call mechanics: The firm bought short-dated name choices with strike costs between $105,000 and $110,000 per BTC expiring at this time, March 27, producing a $2.3 million unrealized acquire in opposition to a $700,000 legal responsibility on the choices ebook.
- Accounting impression: Due to Coinbase Credit‘s rehypothecation rights, U.S. GAAP required derecognizing the 4,709 BTC from GameStop’s steadiness sheet, changing it with a digital property receivable — dropping its rating to roughly one hundred and ninetieth amongst public firm Bitcoin holders.
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GameStop Actually Confirmed Holding Bitcoin, Bullish for Crypto?
The 10-K filed with the SEC exhibits GameStop pledged 4,709 BTC to Coinbase Credit in January as collateral for an over-the-counter covered-call technique, to not exit the place.
The firm initially bought 4,710 BTC in May 2025 for about $500 million, deploying obtainable money reserves into Bitcoin at ranges that now characterize a $131.6 million loss on digital property for fiscal 2025.
