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Gate ELSA Futures Trading Challenge is Now Live!
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GAMESTOP TO SELL ITS ENTIRE BITCOIN TREASURY?!
GameStop just transferred all 4,710 $BTC to Coinbase Prime, a platform typically used for institutional selling.
The firm bought the coins in May last year for $504.4M, at an avg. price of $107.9K per BTC.
Holdings peaked at $590M when Bitcoin hit its ATH.
With $BTC now at $89.8K, a sale would imply unrealized losses exceeding $81M.
At its height, GameStop ranked among the top 25 LARGEST Bitcoin holders globally.