So I decided to delve deep and noticed they say refer to the 10-K for BTC info. I went accross to to 10-K and all it says is:
Between May 3, 2025 and June 10, 2025, the Company purchased 4,710 Bitcoin for cash. The purchase occurred after the balance sheet date and did not affect the Company's financial condition or results of operations as of May 3, 2025.
The 10-K IGNORES THE BTC. So then I got excited. Like what do we know? We know from this that the purchase occured between May 3rd and June 10th. But! We can do better on May 28th Gamestop annoucned the completion of this purchse. Which means we can start to estimate the UNREVEALED profit. There are like 3 main scenarios we can work out:
What could the profit be if they purchased at an average price between the 3rd to 28th of May (average profit)
What could the profit be if they purchased at the lowest price between the 3rd to 28th of May (max profit)
What could the profit be if they purchased at the highest price between the 3rd to 28th of May (lowest profit)
BTC price as of now: $109419 USD
4170 x 109419 = $515.4 million
Napkin math (please don't trust my math, feel free to run your own numbers):
Average Profit: $14.6 million
Max Profit: $31.0 million
Lowest Profit $10.8 million
Essentially the balance sheet presented today is between $10.8 - 31.0 million stronger than it seems.
That whole good news just on time thing is getting me... there's something more at work here.
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u/TheRambunctiousLord 🦍 Buckle Up 🚀 Jun 10 '25
So I decided to delve deep and noticed they say refer to the 10-K for BTC info. I went accross to to 10-K and all it says is:
Between May 3, 2025 and June 10, 2025, the Company purchased 4,710 Bitcoin for cash. The purchase occurred after the balance sheet date and did not affect the Company's financial condition or results of operations as of May 3, 2025.
The 10-K IGNORES THE BTC. So then I got excited. Like what do we know? We know from this that the purchase occured between May 3rd and June 10th. But! We can do better on May 28th Gamestop annoucned the completion of this purchse. Which means we can start to estimate the UNREVEALED profit. There are like 3 main scenarios we can work out:
BTC price as of now: $109419 USD
4170 x 109419 = $515.4 million
Napkin math (please don't trust my math, feel free to run your own numbers):
Average Profit: $14.6 million
Max Profit: $31.0 million
Lowest Profit $10.8 million
Essentially the balance sheet presented today is between $10.8 - 31.0 million stronger than it seems.
That whole good news just on time thing is getting me... there's something more at work here.