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Cointelegraph by Brayden Lindrea

GameStop moves 4,710 Bitcoin to Coinbase Prime, faces potential $76M loss if sold

GameStop has shifted its entire 4,710 Bitcoin stash, valued at over $422 million, to Coinbase's institutional platform, a move that CryptoQuant says is likely intended for sale. At a Bitcoin price of $90,800, GameStop would lock in about $76 million in losses on its May purchases, made at an average cost of $107,900 per Bitcoin. The company has not yet commented on whether it has sold or plans to sell its Bitcoin holdings.
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