GameStop didn’t sell $324 million worth of bitcoin in January, filing shows
GameStop's 10-K filing revealed it did not sell its bitcoin but instead pledged 4,709 BTC as collateral for a covered-call strategy.Summary
GameStop's recent 10-K filing with the SEC clarified that the company did not sell its $324 million worth of Bitcoin in January, contrary to prior speculation. Instead, the video game retailer entered into an agreement with Coinbase Credit, Inc., pledging 4,709 BTC as collateral for a covered-call strategy. This strategy allows GameStop to earn yield from option premiums, with strike prices between $105,000 and $110,000, though it caps upside potential. The filing noted that control of the pledged bitcoin effectively transferred to Coinbase Credit, leading GameStop to derecognize the BTC as an intangible asset and recognize a digital assets receivable of $368.3 million as of January 31, 2026. This agreement is set to expire on Friday.
(Source：The Block)