GameStop’s Bitcoin Smarts – How They Outsmarted the Market in a Jaw‑Dropping Twist!

By the ledger, GameStop now keeps a single bitcoin itemized on the shelf. Look at the 10‑K that was unfolded: instead of tossing away the 4,710 B‑T‑Cs they snagged in January, the clutter‑and‑buttons business first sent 4,709 of them to Coinbase, then sold call options on that heap. Picture a farmer who pledges his grain to a miller in return for a steady payment and a promise of eventual payment – that’s the covered call, told in hedged currency. GameStop handed the coins over as collateral, sold the calls and collected a windfall of about $368 million.

