- GameStop transfers Bitcoin to Coinbase, raising questions about future strategy.
- CEO Cohen’s share purchase boosts GameStop stock despite Bitcoin uncertainty.
- Corporate Bitcoin treasuries face growing scrutiny and volatility in 2025.
GameStop has transferred its entire Bitcoin stash of 4,710 BTC, valued at approximately $422 million, to Coinbase’s institutional trading platform. This move has raised questions about the retailer’s future plans regarding its Bitcoin holdings. According to CryptoQuant, the transfer, which occurred recently, could signal a potential sale of the assets.
If GameStop does decide to liquidate its holdings at Bitcoin’s current price of around $90,800, the company could face significant losses, with estimates suggesting a loss of around $76 million based on its original purchase price of $107,900 per Bitcoin.
The decision to amass Bitcoin was part of a broader strategy initiated by GameStop’s CEO Ryan Cohen. In May, GameStop acquired the Bitcoin through several investments, with the aim of establishing a corporate crypto treasury. The move followed Cohen’s discussions with Strategy Chair Michael Saylor on how companies could effectively manage and leverage Bitcoin assets. However, GameStop has yet to officially confirm any plans to sell or the reasons behind the recent transfer of its Bitcoin holdings.
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A Shift in Corporate Crypto Strategies
While speculation grows, there are also concerns about the broader trend of corporate Bitcoin investments. Many companies, including GameStop, jumped into Bitcoin and other cryptocurrencies as a potential hedge and a way to diversify their assets.
The volatility of the crypto market has led some to reconsider their positions. In the latter half of 2025, several corporate treasuries saw their investments underperform, which led to a reassessment of the sustainability of holding such volatile assets.
GameStop’s Continued Focus on Business Growth
Despite the uncertainty surrounding GameStop’s intentions with its Bitcoin stash, the company has shown commitment to its growth through other means. In a recent filing, Cohen purchased an additional 500,000 shares of GameStop, valued at over $10 million. This move helped boost the company’s stock price by more than 3%, further indicating Cohen’s continued interest in revitalizing GameStop’s core business.
This development also comes amid ongoing discussions in the corporate world about the long-term viability of crypto treasuries. Over 190 publicly traded companies hold Bitcoin or other digital assets, but questions about the sustainability of these investments continue to rise.
Moreover, major players in the industry, such as Morgan Stanley Capital International (MSCI), have acknowledged the growing importance of corporate crypto strategies. MSCI recently decided not to exclude digital asset treasury companies from its market index, signaling that crypto treasuries may remain a viable asset class for companies in the foreseeable future.
GameStop’s move marks another chapter in the ongoing evolution of corporate crypto strategies. However, only time will tell whether this shift is a strategic pivot or simply a tactical decision to mitigate losses.
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