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Suspected GameStop-Linked Address Deposits 2,396 BTC into Coinbase, Incurs $70M Unrealized Loss

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A suspected GameStop-linked address deposited 2,396 BTC into Coinbase Prime's hot wallet in the last 16 hours, representing nearly half of its BTC holdings. GameStop had purchased 4,710 BTC in May 2025 at an average price of $106,000 to $109,000, totaling $500 million. With the BTC price having dropped from that level, the position now faces an unrealized loss of about $70 million. BTC dominance remains under pressure as large-scale liquidations intensify.

BlockBeats news: On January 21, according to on-chain data, a wallet address suspected to be associated with GameStop transferred 2,396 BTC to a Coinbase Prime hot wallet 16 hours ago, accounting for approximately 50% of its total Bitcoin holdings.


According to the data, GameStop purchased 4,710 BTC through Coinbase Prime in May 2025 as part of its treasury reserves, with a total investment of approximately $500 million. The average purchase price per Bitcoin ranged between $106,000 and $109,000. Currently, the unrealized loss on this Bitcoin holding is approximately $70 million.

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