Crypto News: GameStop Moves Entire Bitcoin Holdings to Coinbase Prime, Sparking Sale Speculation

GameStop has transferred its entire Bitcoin treasury to Coinbase Prime, fueling speculation that the video game retailer may be preparing to sell its BTC holdings amid ongoing market volatility. According to blockchain intelligence firm CryptoQuant, GameStop moved all 4,710 Bitcoin, worth more than $420 million, to Coinbase’s institutional trading platform on Friday — a move the firm described as “likely to sell. ”“GameStop throws in the towel?” CryptoQuant wrote in a post on X, noting that such transfers are typically associated with preparation for liquidation or custody reorganization. Potential $76 million loss on Bitcoin positionIf GameStop were to sell its Bitcoin at current market prices near $90,800, the company would realize an estimated $76 million loss, CryptoQuant said source: https://www.binance.com/en/square/post/35512023315002?utm_source=BinanceNewsRSS