GameStop, the gaming retailer turned corporate Bitcoin holder, has transferred 2,396 BTC (worth approximately $215 million) to Coinbase Prime in two transactions this January. The first transfer of 100 BTC occurred on January 17, followed by a larger 2,296 BTC transfer just three days later. This represents roughly 51% of the company's original stash of 4,710 BTC, which it purchased for about $513 million in May of last year, making it the 22nd-largest public corporate holder at the time.
The move comes amid a shaky market where Bitcoin recently fell below the $90,000 mark, with over $500 million in long positions liquidated in a single hour. The timing has sparked speculation that GameStop may be preparing to sell its holdings to lock in funds or limit losses, though the company has not issued an official statement.
In stark contrast, Michael Saylor's MicroStrategy has aggressively doubled down on its Bitcoin conviction. According to data from Arkham Intelligence, MicroStrategy executed its largest BTC purchase in nearly half a year, buying 22,305 BTC for approximately $2.13 billion at an average price of $95,284 in the week of January 19. This purchase is part of a significant acceleration in buying that began in January 2026, with the firm investing over $3.3 billion in Bitcoin between January 11 and 19.
This relentless accumulation has pushed MicroStrategy's total holdings to a historic 709,715 BTC, representing over 3% of Bitcoin's total supply. Saylor's personal holdings stand at 17,732 BTC. The firm's strategy has focused on "buying the dip" during periods of market uncertainty, viewing price drops as discount windows.
The broader market context includes external pressures such as former President Donald Trump's announcement of new tariffs on European countries, set to start at 10% on February 1 and potentially rise to 25% by June. This has created geopolitical tension and financial uncertainty, with some investors flocking to gold, which hit new highs near $4,750.
Investors are now closely watching the $90,000 Bitcoin price level. If the market remains below this point, more corporate holders might follow a potential GameStop lead and sell, while MicroStrategy's massive accumulation could provide a significant counterbalancing force of institutional demand.
