GameStop didn't sell its 4,710 Bitcoin after all, filing shows

GameStop revealed it didn't actually sell its 4,710 Bitcoin holdings worth $325 million, but instead pledged them as collateral on Coinbase as part of a covered-call options strategy. This clarifies earlier confusion about whether the gaming retailer had liquidated its cryptocurrency position.

• →GameStop pledged nearly all of its 4,710 Bitcoin holdings as collateral on Coinbase rather than selling them outright.
• →The Bitcoin collateral is worth approximately $325 million at current market prices.
• →The company is using a covered-call strategy, generating income from its Bitcoin holdings while maintaining ownership.
• →This clarifies previous confusion about GameStop's cryptocurrency holdings status.
• →GameStop continues to hold significant Bitcoin exposure while implementing an options-based revenue strategy.