GameStop moves Bitcoin to Coinbase, faces $76M loss

GameStop moved all 4,710 BTC to Coinbase Prime, likely preparing to sell at a $76M loss, just as GME stock rises after a major share buy.

GameStop has transferred all 4,710 of its Bitcoin holdings, worth about $504 million at the time of purchase in May 2025, to Coinbase Prime. This move suggests a potential exit from its crypto position. The average purchase price was $107,900 per Bitcoin, but with current prices near $90,800, a sale would result in an estimated $76 million loss. On-chain data and blockchain analysts have flagged these transfers, which are often associated with selling activity, though GameStop has not officially confirmed any sale. This development comes less than a year after the company’s significant Bitcoin acquisition, sparking debate about the timing and rationale behind the investment. Meanwhile, GameStop’s stock price climbed above $23 following a substantial share purchase by Ryan Cohen, signaling renewed investor confidence despite potential crypto losses. These events underscore the risks of corporate Bitcoin exposure and shifting sentiment in both crypto and equity markets.