TLDR:
GameStop transferred its entire 4,710 BTC holding to Coinbase Prime, suggesting an imminent sale.
The move implies million-dollar losses as the purchase price was significantly higher than current market levels.
GME shares rose 6% following massive stock buybacks by CEO Ryan Cohen.
The recent movements of the famous video game retailer have sparked caution in the cryptocurrency market. On-chain data confirmed that GameStop sold its Bitcoin at a loss of approximately $76 million following a massive transfer to the Coinbase exchange.
GameStop throws in the towel?
Their on-chain wallets just moved all BTC holdings to Coinbase Prime, likely to sell.
Between May 14–23, 2025, they bought 4,710 BTC at an avg. price of $107.9K, investing ~$504M.
Now selling for around $90.8K, potentially realising approximately… pic.twitter.com/Bp7MwRVQ43
— CryptoQuant.com (@cryptoquant_com) January 23, 2026
The video game company transferred 4,710 BTC, which were originally acquired in May 2025 at a price of $107,900. With the pioneer cryptocurrency currently trading near $90,000, the liquidation of these assets represents a significant financial blow to the company’s treasury strategy.
The decision to move funds to Coinbase Prime is interpreted as a preliminary step toward executing a large-scale sale. Analysts suggest the timing reflects a loss of momentum in Bitcoin’s price and a need to adjust the corporate balance sheet after months of inactivity.
Ryan Cohen and the Contrast Between Crypto and Equity Markets
Despite the potential negative exit from the crypto sector, the company’s shares (GME) remained resilient. The stock price rose approximately 6% recently, driven by a strong signal of confidence from its executive leadership.
Ryan Cohen, the company’s CEO, acquired one million shares between January 20 and 21, increasing his total stake to 9.3%. For his part, director Alain Attal also joined the buying trend, reinforcing bullish sentiment among retail investors.
In summary, while GameStop sells its Bitcoin at a million-dollar loss amid weakness in digital assets, its equity capital structure is strengthening. Traders are now watching to see if the $22 resistance zone holds as support to continue the stock market rally.
