GameStop’s Bitcoin Shift Fuels Fears of BTC Sell-off

TheNewsCryptoPublished on 2026-01-24Last updated on 2026-01-24

Abstract

GameStop has transferred its entire Bitcoin treasury, totaling 4,710 BTC (approximately $420 million), to Coinbase Prime, sparking speculation of an imminent sale. The move, detected on January 23, suggests the company may be preparing to liquidate its holdings amid current market volatility. If sold at current prices near $90,800, GameStop would realize an estimated loss of $76 million, as the coins were acquired at an average cost of around $107,900 each. This development follows recent meetings between CEO Ryan Cohen and MicroStrategy’s Michael Saylor regarding corporate Bitcoin strategy. Concurrently, Cohen purchased an additional $10 million in GME shares, causing a 3% stock rise. The actions indicate a potential strategic shift away from crypto exposure despite growing corporate interest in Bitcoin as a reserve asset in 2024-2025.

GameStop has shifted its complete Bitcoin treasury to Coinbase Prime, igniting anticipation that the video game retailer may be planning to sell its BTC holdings at the time of current market volatility.

As per the blockchain intelligence company CryptoQuant, GameStop transferred all 4,710 BTC, estimated at over $420 million, to Coinbase’s institutional trading platform on January 23, a shift the firm defined as probably to sell.

CryptoQuant asked through a post on X: ‘Does GameStop throw in the towel?’ It also mentioned that such moves are normally linked with preparation for liquidation or custody reorganisation.

If GameStop had to sell its Bitcoin at the current price of around $90,800, the firm would report an estimated $76 million loss. The retailer collected its BTC position at an average purchase price of around $107,900 for one BTC, taking the overall investment to over $500 million at the time.

The Increased Popularity

GameStop rolled out its Bitcoin treasury strategy at the start of this month after the chief executive officer, Ryan Cohen, met with Strategy chair Michael Saylor, talking over how corporate Bitcoin holdings could be structured.

At the time of writing, GameStop hasn’t officially accepted it, but the move indicates an imminent sale. The blockchain move came up with a regulatory filing at the start of this week indicating that Ryan Cohen bought an additional 500,000 GME shares, worth more than $10 million.

GameStop shares increased by over 3% after the disclosure. The comparing actions and surging equity exposure while certainly suppressing crypto exposure have added anticipation that GameStop may assess its digital asset strategy once again.

The corporate crypto treasuries increased in popularity over 2024 and early 2025, with firms looking for exposure to Bitcoin as a balance-sheet reserve asset. Although, a lot of firms witnessed share price volatility accelerate in late 2025 as BTC retraced from record highs.

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Related Questions

QWhat action did GameStop take with its Bitcoin treasury that sparked fears of a sell-off?

AGameStop transferred its entire Bitcoin treasury of 4,710 BTC to Coinbase Prime, which is an institutional trading platform, sparking anticipation of a potential sale.

QAccording to CryptoQuant, what are the two main reasons typically associated with such a transfer of Bitcoin holdings?

AAccording to CryptoQuant, such moves are normally linked with preparation for liquidation or custody reorganization.

QWhat would be the estimated financial loss for GameStop if it sold its Bitcoin at the current price mentioned in the article?

AIf GameStop sold its Bitcoin at the current price of around $90,800, it would report an estimated loss of $76 million.

QWhat recent action by CEO Ryan Cohen, related to GameStop stock (GME), was disclosed alongside the Bitcoin transfer?

AA regulatory filing indicated that CEO Ryan Cohen bought an additional 500,000 GME shares, worth more than $10 million.

QHow did the market react to the news of Ryan Cohen's share purchase, and what broader strategic shift does this suggest for GameStop?

AGameStop shares increased by over 3% after the disclosure. The combined action of increasing equity exposure while reducing crypto exposure suggests the company may be reassessing its digital asset strategy.

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