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GameStop’s $55.5 billion eBay takeover bid puts its $368 million bitcoin stash in the crosshairs
The video game retailer’s proposed acquisition plan revives question on whether its $368 million bitcoin stash could be sold to fund the expansion.
May 4, 2026, 8:16 p.m. 2 min read
What to know:
- Video game retailer GameStop proposed to acquire online marketplace eBay for $55.5 billion in a major expansion bid.
- The company plans to fund the bid with $9.4 billion in cash and liquid investments on its balance sheet plus up to $20 billion in financing, raising questions about whether it will sell its $368 million bitcoin stake.
- The bid comes after GameStop shifted its bitcoin stash to Coinbase Prime to generate income, while CEO Ryan Cohen framed the firm’s expansion plan as “way more compelling than bitcoin.”
A deal of this size would likely require significant cash. GameStop said it expects to fund the offer using its $9.4 billion of “cash and liquid investments” on its balance sheet and up to $20 billion in financing, backed by a letter from TD Securities.
Will GameStop sell BTC?
That raises fresh questions about whether GameStop will sell its BTC to help pay for the deal.
The acquisition plan follows earlier remarks from CEO Ryan Cohen, who said in February he was pursuing a “very, very, very big” acquisition of a public consumer firm. He described the plan as “way more compelling than bitcoin” and left open the option of selling the company’s crypto holdings to fund a deal.
