Hot Goss in the Crypto World
- GameStop’s Bitcoin stash just took a one-way trip to Coinbase Prime-aka the breakup motel for crypto holdings.
- Remember when they dropped $504 million on 4,710 BTC in May 2025? Cute. Now it’s worth less than a Kardashian’s engagement ring.
- Selling now? That’s a cool $76 million in losses. Someone call the financial therapist.
Oh, GameStop. The video game retailer that thought it could moon with Bitcoin. On-chain data just spilled the tea: all their BTC is now chilling at Coinbase Prime, the place where crypto goes to die-or at least get sold. CryptoQuant says this move screams “I’m out,” but let’s be real, we’ve all made bad decisions after a few drinks (or in GameStop’s case, a $2.25 billion convertible note sale).
Risk aversion is the new black, and GameStop’s Bitcoin fling is looking about as stable as a Tinder relationship. Crypto and equities are having a meltdown, and suddenly holding onto a high-beta asset feels like hugging a cactus. Ouch.
CryptoQuant’s got the receipts: GameStop bought 4,710 BTC in May 2025 at an average of $107,900 per coin. Now Bitcoin’s hovering around $91,000. Selling? That’s a $76 million “oops” moment. Someone pass the financial Advil.
GameStop’s Bitcoin romance: from “strategic treasury position” to “let’s just be friends.” Coinbase Prime is the new relationship status.
Bought 4,710 BTC at $107.9K? Bold. Selling at $90.8K? Iconic self-sabotage.
– CryptoQuant.com (@cryptoquant_com) January 23, 2026
From Crypto Queen to Wallflower
Remember when GameStop went full crypto in 2025? The board was like, “Bitcoin? Yes, please!” and followed MicroStrategy’s lead like a sheep in Louboutins. They even expanded a $2.25 billion note sale to fund this wild ride. Management called it a “strategic treasury position,” but let’s call it what it is: a FOMO-induced splurge.
Moving BTC to Coinbase Prime doesn’t technically mean they’re selling, but come on. Large firms don’t do this unless they’re about to rebalance, hedge, or yeet their holdings into the void. Spoiler: it’s probably the last one.
Timing Worse Than a Text at 2 AM
GameStop’s potential exit comes during the financial equivalent of a global panic attack. Bitcoin’s below key levels, equities are crying in the corner, and geopolitical tension is the uninvited guest at this party. Even GameStop’s stock is down to $22.80-a far cry from its glory days.
For a company already juggling weak retail sales and jittery investors, holding onto Bitcoin during a macro sell-off is like trying to dance in heels after three glasses of wine. It’s not pretty, and someone’s definitely falling.
This whole saga highlights the crypto corporate divide: some companies lean into downturns like a boss, while others bail faster than a bad first date. If GameStop sells, it’ll be the fastest Bitcoin breakup in public company history. From “I do” to “I’m out” in less than a year. Iconic.
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2026-01-23 22:28