TechFlow reports that on March 25, crypto analyst Emmett Gallic (@emmettgallic) revealed GameStop purchased 4,710 bitcoins for $500 million in May 2025. In January of the same year, the company pledged 4,709 of those bitcoins to Coinbase Credit as collateral for covered call options and derecognized the related bitcoins, recording a $368.3 million receivable. Based on the acquisition cost, the current book net loss is approximately $131.6 million. Since pledging the collateral, the bitcoin price has fallen roughly 25% cumulatively.
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