SharpLink Gaming, a gaming company chaired by Ethereum co-founder Joseph Lubin, is making a huge move into the crypto world. They’re planning to build a massive Ethereum (ETH) treasury, starting with a whopping $475 million investment.
Funding the ETH Purchase
To get the ETH, SharpLink is selling over 69 million shares of its stock. This move comes after a wild week for the company’s stock price, which saw a massive increase before settling down.
Lubin’s Involvement
Lubin, who’s also the CEO of Consensys, expressed his excitement about the project. He stated that Consensys plans to partner with SharpLink, offering strategic advice and helping to develop their Ethereum treasury strategy. He sees this as a significant moment for the Ethereum community.
Stock Price Surge and Current Status
SharpLink’s stock (SBET) experienced a dramatic rise, jumping from $2.79 to over $50 in just a few days. While it has since pulled back, it’s still significantly higher than its recent lows. At the time of writing, ETH is trading around $2,635.
Disclaimer: This information is for general knowledge only and isn’t financial advice. Always do your own research before investing in anything, especially high-risk assets like cryptocurrencies.
/p>
