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If you are a new player I would sell him :) That way you can get more barns and more show ponies.

A gmt is worth 250k so most candy ponies sell for 200-225k :D

Wow, congratulations! They're so rare when no special event ups your chances. Now, since a GMT costs 250k in game cash, you could sell him for around 200k. Much more above that and you might as well just buy the IVs to trade for the GMT. He isn't very special gene-wise as a True Grullo Tobiano Splash create, but he's still usable and interesting, so you could keep him for yourself and trade in the token at your leisure. A single GMT isn't incredibly useful (in my opinion) unless you find other GMTS or use it to modify a lined horse, which only takes one GMT per allele. So, you could wait and hold on to him, you could sell him for some considerable cash, or you could use his token now and edit a small gene on a foundation or any gene (barring LE) on a lined one.

No, using him to breed shouldn't affect anything. The buyer likely won't be interested in his offspring.

Thanks very much - was just about to buy a GMT which would cost me 250k so you have just saved me 50k and hopefully you can find something to spend your 200k on :)