Video game retailer GameStop (NYSE: $GME) is refuting online rumours that it sold its $324 million U.S. Bitcoin (CRYPTO: $BTC) holding.
There has been widespread speculation that GameStop had exited the Bitcoin position it acquired in 2025 and was changing its cryptocurrency treasury strategy.
But the company’s latest 10-K regulatory filing with the U.S. Securities and Exchange Commission (SEC) shows that GameStop still owns 4,709 BTC.
GameStop said the confusion arose after it used its Bitcoin holdings as collateral with Coinbase Credit (NASDAQ: $COIN) as part of a covered-call strategy.
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"In the fourth quarter of fiscal 2025, we entered into an agreement with Coinbase Credit, Inc., under which we sold covered call options on a portion of the bitcoin we own," said GameStop in a statement.
The regulatory filing should end speculation that GameStop divested its entire Bitcoin holdings amid the cryptocurrency’s 45% price drop since last October.
GameStop said the covered-call strategy allows it to earn additional yield from option premiums on its Bitcoin collateral, with strike prices set between $105,000 U.S. and $110,000 U.S.
The strategy caps upside potential if Bitcoin surges above those levels, but it provides income and maintains the company's exposure to BTC.
So far, the covered call strategy has given GameStop an unrealized gain of $2.3 million U.S.
GME stock has declined 50% over the last five years to trade at $22.68 U.S. per share.