GameStop's Bitcoin Holdings: A Covered Call Strategy

GameStop has disclosed that it pledged 4,709 Bitcoins to Coinbase Credit for an over-the-counter covered call strategy, not a sale. The move reclassified the holdings from a directly held asset to a $368.3 million digital assets receivable on the balance sheet. The company recorded a $131.6 million net loss on its cryptocurrency holdings for fiscal year 2025. The disclosure resolves months of market speculation and indicates that GameStop may still be interested in Bitcoin in the future.