GameStop Moves 4,710 BTC to Coinbase Prime with $76M Loss

GameStop, the largest video game retailer, is facing significant losses on its Bitcoin holdings as the asset trades below $90,000.

In May 2025, GameStop acquired 4,710 BTC for approximately $504 million, with an average cost of $107,900 per BTC.
Recently, GameStop transferred its BTC to Coinbase Prime, suggesting a potential sale, which could lead to $76 million in realized losses.
Ryan Cohen, CEO of GameStop, purchased 500,000 shares at $21.12 each, while GameStop shares are currently trading at $23.14.
By the end of Q2 2025, GameStop's BTC holdings were valued at $528.6 million, as BTC traded near $120,000.
Currently, Bitcoin is priced at $89,400, showing a 6.4% decline over seven days and a 32% drop in trading volume to $35 billion.

CEX Inflows and ETF Outflows

Bitcoin struggles due to reduced institutional interest and increased inflows into centralized crypto exchanges.
Centralized exchanges saw a net inflow of 5,026 BTC in the last 24 hours and 9,891 BTC over the past week.
US-based spot BTC ETFs recorded a net outflow of $1.22 billion over three days.
Negative momentum is partly due to US macroeconomic uncertainties, including tariff threats from President Donald Trump towards EU countries.