GameStop Moved 4.7K BTC to Coinbase Prime at $76M Loss

Company Overview - GameStop, the world's largest video game retailer, is experiencing significant losses on its Bitcoin holdings as the cryptocurrency struggles below $90,000 [1] - In May 2025, GameStop acquired 4,710 BTC for approximately $504 million, with an average purchase price of $107,900 [1] Financial Impact - GameStop's recent deposit of its BTC holdings into Coinbase Prime could result in $76 million in realized losses if the assets are sold now [2] - By the end of Q2 2025, GameStop's Bitcoin holdings were valued at $528.6 million when BTC was trading close to $120,000 [3] Market Conditions - Currently, Bitcoin is trading at $89,400, reflecting a 6.4% decline over the past week, with trading volume decreasing by 32% to $35 billion [3] - The cryptocurrency market is facing bearish momentum due to reduced institutional interest and increased inflows into centralized exchanges, indicating potential selloff fears among investors [4] ETF and Macro Factors - US-based spot Bitcoin exchange-traded funds have seen a net outflow of $1.22 billion over the past three days, attributed to macroeconomic uncertainties, including tariff threats from President Donald Trump towards EU countries [5]