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GameStop has transferred its entire Bitcoin holdings to Coinbase Prime, suggesting a potential plan to sell them all, according to CryptoQuant data, as the exchange often serves as a staging ground for large sales.
Even though the company is yet to confirm a sale, analysts have been quick to describe the timing as consistent with a potential exit from its BTC position.
On January 17, GameStop moved 100 BTC, worth around $9.5 million, and an additional 2,296 BTC on January 20, accounting for 51% of its total BTC treasury, with 4,710 BTC acquired between May 14 and May 23, 2025, spending about $504 million at an average price of $107,900 per coin.
GameStop throws in the towel?
Their on-chain wallets just moved all BTC holdings to Coinbase Prime, likely to sell.
Between May 14–23, 2025, they bought 4,710 BTC at an avg. price of $107.9K, investing ~$504M.
Now selling for around $90.8K, potentially realising approximately… pic.twitter.com/Bp7MwRVQ43
— CryptoQuant.com (@cryptoquant_com) January 23, 2026
The BTC hoard remained untouched for months before the abrupt outflow in January 2026, suggesting the move was planned rather than routine.
With the company selling BTC near $90,800, it would lock in roughly $76 million in losses based on the difference between the average purchase price and current market pricing.
GameStop Sale Speculation Amid Caution In The Market
Speculation of an incoming sale by GameStop comes as Bitcoin struggles to regain bullish momentum, trading at $89,534 as of 1:39 a.m. EST, amid indicators pointing to rising sell-side activity.
Data from Coinglass shows that centralized exchanges continue to face a sustained BTC outflow, with 208.95 BTC leaving exchanges in the last 24 hours.
Meanwhile, US Spot BTC exchange-traded funds (ETFs) recorded net outflows of $103.5 million over the last 24 hours, marking the fifth consecutive day of outflows this week.
The weaker demand comes amid a week of macro uncertainty tied to President Donald Trump’s renewed tariff threats, as investors turned to safe-haven assets like gold and silver, both of which have hit new all-time highs.
Meanwhile, GameStop’s stock moved in a different direction with the sale, with the company’s shares trading at around $23.28 after a 1.26% jump in the last 24 hours.
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