Retail giants prop up their financial reports with interest and options income, treating Bitcoin staking like wealth management. The new strike price range suggests they genuinely think they can push to 110k by the end of the year—this isn’t a gaming company; it’s clearly a crypto hedge fund.

GameStop and Coinbase renew Bitcoin options contracts. The initial unexercised contracts retain a $5.8 million premium, with an exercise price of $80,000. The contracts that expire before May 29 are not exercised, and with almost all Bitcoin still staked, Coinbase profits when the coin price exceeds the strike price. The new contracts’ exercise price is below the $105,000 to $110,000 range. During the quarter, Bitcoin contributed approximately $1 million in digital asset gains, for net income of about $390 million, mainly from interest on cash reserves and unrealized gains related to eBay options, rather than from retail business.