GameStop moved its entire 4,710 Bitcoin stash to Coinbase Prime, raising speculation about a potential shift in Bitcoin treasury strategy. The transfer, valued at over $422 million, could result in a $76 million loss if sold at Bitcoin’s current price of $90,800. GameStop acquired the Bitcoin at an average price of $107,900 in May.

The video game retailer established a Bitcoin treasury following a meeting between CEO Ryan Cohen and Strategy chair Michael Saylor in February. GameStop has not confirmed whether it has sold or plans to sell its Bitcoin holdings. CEO Ryan Cohen recently purchased 500,000 GME shares worth over $10 million, contributing to a 3% share price increase.

Corporate crypto treasuries, including GameStop’s, received a boost after MSCI decided not to exclude digital asset treasury companies from its market index. Exclusion could have led to significant capital outflows for companies like GameStop. Establishing crypto treasuries has been a popular trend among publicly traded companies, with over 190 holding Bitcoin on their balance sheets.

Read more at Cointelegraph: GameStop Moves 4,710 Bitcoin Signaling Potential Sale