GameStop's $420 million bitcoin move sparks speculation of selling

While blockchain data confirms the movement to Coinbase Prime, the transfer could also mean internal asset management or custody. What to know : GameStop transferred its entire bitcoin holdings — about 4,710 BTC worth roughly $420 million — to Coinbase Prime this week, analytics firm CryptoQuant noted. The move has fueled speculation that GameStop might be preparing to exit its bitcoin position, which would likely lock in an estimated loss of around $84 million at current prices. While large transfers to Coinbase Prime often signal intent to sell, the platform also provides institutional custody services, and GameStop has not yet commented on the transaction or its intentions.