GameStop Clears Up Bitcoin Rumors with Latest SEC Filing

GameStop's recent SEC filing has shed light on its Bitcoin holdings, putting to rest rumors that it had offloaded $324 million worth of the digital currency in January.

The company disclosed that it had pledged 4,709 BTC as collateral with an exchange Credit for a covered-call setup. This strategy allows GameStop to generate yield while keeping the underlying asset.

At first glance, the number of Bitcoin pledged may have sparked speculation about GameStop's cryptocurrency exposure. However, the filing makes clear that this was not a sale or distribution of its Bitcoin holdings, but rather a strategic use of part of its stash.