GameStop transferred its entire Bitcoin treasury of 4,710 BTC (~$420M) to Coinbase Prime.

Blockchain firm CryptoQuant says such moves often signal liquidation or treasury restructuring.

If sold at current prices, the company could face an estimated $76M loss.

GameStop acquired its BTC at an average price near $107,900 per coin.

The transfer coincides with CEO Ryan Cohen buying $10M worth of GME shares.

This contrast has fueled debate over a shift from crypto exposure to equity confidence.

GameStop has not confirmed any intent to sell.

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