According to Mars Finance, GameStop transferred all 4,710 of its bitcoins to Coinbase Prime in January, sparking speculation about a potential sell-off. The company had previously built a bitcoin holding of approximately $500 million, which is now worth about $362.4 million. CEO Ryan Cohen stated in an interview with CNBC on Friday that the company is shifting towards a transformative acquisition strategy, calling it more attractive than bitcoin itself. Cohen declined to comment on whether the company would liquidate its bitcoin holdings, but emphasized that the acquisition plan is transformative not only for GameStop but also for the entire capital market. Following the announcement, GameStop's stock price rose approximately 8.25% to $25.85.
GameStop CEO Hints at Possibly Selling Bitcoin to Fund Major Acquisition Plans
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