GameStop (GME) disclosed a paper loss of approximately $9.4 million on its Bitcoin holdings in the third quarter ending November 1. Based on the quarter-end price, the company's 4,710 BTC were worth approximately $519 million, with no new or sold Bitcoin acquired during the quarter. The report notes that GameStop purchased the 4,710 BTC between May and June using a $1.3 billion bond financing and subsequently chose to hold them long-term. During the third quarter, the price of Bitcoin fell from approximately $115,000 to approximately $110,000. Affected by weaker-than-expected sales data, GameStop's stock price fell 5.8% on Wednesday. Since announcing its strategy of including Bitcoin in its treasury, the company's stock price has fallen by more than 22%. (coindesk)