GameStop 将 3.68 亿美元比特币转为期权收益策略

BTC-2,82%

Gate News 消息,3 月 26 日,GameStop 披露,其此前转移至某 CEX 的约 4,710 枚 BTC 并非出售,而是作为抵押参与备兑看涨期权(covered call)策略,用于获取期权权利金收益。公司通过场外交易(OTC)卖出短期看涨期权,行权价区间为 10.5 万至 11 万美元,在保留比特币敞口的同时获取收入,但相应也限制了上涨收益空间。受该结构影响,GameStop 已不再直接持有比特币资产,而是将其记为"应收资产",即未来可从对手方收回等值 BTC 的权利。由于抵押资产可被再质押或再利用(rehypothecation),其持仓已转变为带有对手方风险的衍生品敞口。财报显示,截至财年末,与该策略相关的应收资产价值约为 3.683 亿美元,同时录得约 5970 万美元未实现亏损(因比特币价格下跌)。此外,公司确认约 70 万美元期权负债及 230 万美元未实现收益。

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