GameStop Didn't Sell Its Bitcoin. It's Earning Yield On It.


GameStop pledged 4,709 BTC (~$368M) to Coinbase as collateral for a covered-call strategy, confirmed via SEC 10-K filing.
▸ Strike prices: $105K–$110K
▸ Goal: Earn premium income, not sell BTC
▸ Only 1 BTC remains directly on balance sheet
▸ Dropped from 21st to 190th in public BTC rankings (accounting change, not a sale)
This is a major shift. A public company is now using Bitcoin as a yield tool through derivatives instead of just holding.
BTC-0,41%
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