Trending Now - Gamestop Retains 4,710 Bitcoins, Shocking Crypto Enthusiasts
WHO:
GameStop, Coinbase, Bitcoin enthusiasts, SEC (Securities and Exchange Commission)
WHAT:
GameStop received approximately $368 million in cash as part of the covered-call strategy.
GameStop's upside is capped at roughly $105,000 to $110,000 per Bitcoin due to the covered-call strategy.
GameStop's strategy involves using Bitcoin as a yield-bearing financial instrument rather than a long-term investment.
GameStop pledged 4,709 of its 4,710 Bitcoins as collateral for a covered-call strategy.
The value of the pledged Bitcoin is approximately $325 million to $368 million.
GameStop's latest 10-K filing indicates it now owns only 1 Bitcoin.
GameStop's revenue decreased by roughly 25% year-on-year and about 14% in Q4 2025.
WHERE:
The Bitcoin was pledged to Coinbase.
WHEN:
GameStop purchased the 4,710 Bitcoins in January 2025.
The financial strategy was revealed in the company's latest 10-K filing.
WHY:
GameStop is increasingly using financial engineering to generate income due to a decrease in demand for physical media and shrinking sales.
GameStop is using financial engineering to generate income due to shrinking sales from decreasing demand for physical media.
HOW:
GameStop's agreement with Coinbase allows the company to derecognize the pledged Bitcoin and book a "digital asset receivable" instead.
GameStop executed a covered-call strategy, which involves owning an asset and selling call options against it to collect premium income while capping potential upside.
(UPDATED March 27, 2026 19:19 UTC)
GameStop has secured approximately $368 million in cash through a covered-call strategy, which also caps their upside at around $105,000 to $110,000 per Bitcoin. This move reflects GameStop's shift towards financial engineering to boost income amid declining demand for physical media and falling sales. Their partnership with Coinbase enables the company to derecognize pledged Bitcoin and record a "digital asset receivable" instead.
--
(UPDATED March 27, 2026 13:23 UTC)
GameStop has pledged 4,709 of its 4,710 Bitcoins as collateral for a covered-call strategy, which is valued at approximately $325 million to $368 million, and this information was revealed in the company's latest 10-K filing. The company, which purchased these Bitcoins in January 2025, now owns only 1 Bitcoin as it seeks to generate income through financial engineering amid a 25% year-on-year revenue decline and a 14% drop in Q4 2025. The Bitcoins were pledged to Coinbase as GameStop adapts to the shrinking demand for physical media.