Major gaming retailer GameStop has reportedly moved all of its massive 4710 BTC stash to a cryptocurrency exchange in a recent transaction. As reported by on-chain analytics firm CryptoQuant, the company is looking to sell this considerable stash, that too at a loss of roughly $75 million, increasing pressure on the bullish forces.
CryptoQuant tweeted:
CryptoQuant’s on-chain reporters are confident enough to state that GameStop is looking to liquidate its entire stash in the market. Having spent more than $504 million to acquire this many bitcoin, the company is prepared to sell its acquisition at a loss of roughly 14.9% if it decides to proceed with this move.
GameStop Throws in the Towel?
GameStop’s foray into Bitcoin started roughly one year ago when the CEO Ryan Cohen got influenced by Michael Saylor’s buying spree and decided to make big moves of his own. More than 190 other companies have established Bitcoin treasuries in the last couple of years, but at least some of them are contemplating selling it after a year of poor price action and bearish pressure.
CryptoQuant seems sure that GameStop is about to sell, but is it?
The latest on-chain BTC transfers from GameStop come at a time when the CEO recently bought 500,000 shares (worth $10 million) of the company in an insider purchase, according to a filing on Wednesday. An insider purchase is different from a company buyback as it is not an official move by the parent company. The company’s stock rose 3% in value after this buying activity.
Crypto treasuries became a popular trend among major companies in late 2024 and 2025. However, a poor performance by the larger cryptocurrency market in 2025 resulted in many of these big players second-guessing their purchase. The stock market, precious metals, and other commodities on the other hand gave a bullish performance of a lifetime, causing further doubts in the minds of these companies.
The Future
It remains to be seen when GameStop is going to go ahead with their Bitcoin liquidation process. Normally when an investor transfers its crypto to an exchange, it is usually an indication that the company is looking to offload its stash in the market.
The same is likely to happen with GameStop’s stash and it could be used to engage in a major stock buyback program given the current disposition of the company. The company is facing major issues with massive store closures, falling revenue, and falling worth of its Bitcoin treasury. It may be forced to empty its coffers sooner rather than later.
