Gate News News, March 26 — GameStop revealed that approximately 4,710 BTC previously transferred to a non-CEX exchange were not for sale but used as collateral in a covered call options strategy, aiming to earn income from option premiums. The company sold short-term call options through OTC trading, with strike prices ranging from $105,000 to $110,000, holding the Bitcoin position while generating income, but also limiting the upside profit potential. Due to this structure, GameStop no longer directly holds Bitcoin assets but records them as "accounts receivable," meaning the right to recover an equivalent amount of BTC from partners in the future. Since collateral assets can be rehypothecated or reused, their position has shifted to counterparty risk in derivative contracts. Financial statements show that, as of the end of the fiscal year, the accounts receivable related to this strategy were approximately $368.3 million, with an unrealized loss of about $59.7 million due to Bitcoin price declines. Additionally, the company confirmed an options payable of around $700,000 and an unrealized profit of approximately $2.3 million.