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GameStop transfers all Bitcoin reserves to a compliant custody platform; is a large-scale sell-off imminent?
Source: PortaldoBitcoin Original Title: GameStop sends all Bitcoin reserves to Coinbase; is a dump coming? Original Link: This week, rumors have emerged in the cryptocurrency market that GameStop may be preparing to abandon its Bitcoin reserve strategy. On-chain data shows that the video game retailer has transferred 100% of its BTC reserves to a compliant custody platform, a move often indicative of large-scale institutional selling.
According to data from crypto analytics firm CryptoQuant, wallets associated with GameStop have transferred approximately 4,710 Bitcoins (worth about $418 million) to an address of a compliant custody platform. This transfer has triggered market alerts, suggesting a potential large-scale sell-off, especially during a weak market.
If the sell-off is confirmed, this move could represent significant losses. GameStop bought these BTC between May 14-23, 2025, at an average price of $107,900,000, totaling about $504 million. With Bitcoin currently trading near $88,800,000, closing all positions could result in losses of approximately $86 million.
This move surprised the market because Bitcoin purchases were announced as part of a long-term strategy. At that time, GameStop announced that after completing a $1.5 billion convertible senior bond issuance, it had acquired 4,710 BTC, indicating the company was building an enterprise treasury based on major cryptocurrencies.
Back then, CEO Ryan Cohen even hinted that the company would emulate the Bitcoin accumulation pattern of some leading enterprises. In March 2025, Cohen was photographed with an executive symbolizing the Bitcoin corporate accumulation model.
GameStop became famous worldwide in 2021 for the “meme stock” phenomenon, when investors organized on forums like Reddit to fight against short-selling funds, triggering one of the largest short squeezes in financial market history, led by the iconic figure Roaring Kitty.