According to BitcoinTreasuriesNET, video game retailer GameStop disclosed that it has transferred 4,710 BTC to Coinbase Prime and pledged 4,709 of them to Coinbase Credit Inc. to execute a covered call option strategy with an exercise price of $105,000 to $110,000 and an expiry date of March 2026. Accordingly, the company removed the related BTC from its balance sheet and recognized $368.3 million in digital asset receivables (as of January 2026), retaining only 1 BTC on its balance sheet. Due to the related accounting treatment and BTC price fluctuations, the company reported a loss of $131.6 million on digital assets and related receivables.
GameStop pledged 4,709 BTC to Coinbase to execute a covered call bullish strategy.
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