Could be for sell, there are other possible reasons:
"Liquidity interests to earn yield over time.
Regulatory and audit protection.
Having bitcoin stored cold wallet with the company can have M&A difficulties, so they move it before an M&A transaction takes place, allows for movement between more than one company under GameStops umbrella and gives them a broader treasury strategy
Makes rebalancing of statements easier during M&A. Etc.
Many many reasons, all of which if people understood the product would know this, but instead we get panic posts."
Quote:
Originally Posted by mechanicvirus
Does anyone know why?
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and to note, Jacob King (guy who made that post) swore that Bitcoin is going to $30k in 2025. Dude is a BDS liar and fraud, a contrarian for clicks.
Also, Cohen supposedly purchasing 500k shares so maybe they're converting BTC to GME. Right now everything is speculative.