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GameStop transfers all but one Bitcoin to Coinbase as collateral
It’s been one year since GameStop added bitcoin as a treasury reserve asset, but the company has since halted its accumulation strategy, joining a fray of companies pivoting away from HODLing the cryptocurrency. The gaming and collectible retailer was at one point the 21st largest bitcoin treasury company, but has since dropped to 190th after pledging all but one of its 4,710 bitcoins as collateral for its covered-call strategy with Coinbase Credit, according to data from Bitcoin Treasuries. Earlier this year, GameStop moved 51% of its bitcoin to Coinbase Prime, triggering speculation that it would offload the ... (full story)
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