SharpLink Gaming (SBET), a publicly traded marketing company, has announced a $425 million Ethereum (ETH) reserve strategy.
Shares of SharpLink Gaming are up a whopping 420% in premarket trading following the announcement.
SharpLink Gaming has agreed to raise the aforementioned sum by selling 61.1 million shares to select investors that include Ethereum development studio Consensys, Pantera Capital, Galaxy Digital and Electric Capital. The deal is expected to close later this month.
HOT Stories Strategy's Michael Saylor Asks Crucial Bitcoin Question Stellar (XLM) Dethrones Shiba Inu, Will It Last? Ethereum (ETH) Possibly Just Got Its Michael Saylor Dogecoin Death Cross Might Stun Market Bulls, What Can Stop It?
Ryan Sean Adams of Bankless Ventures has drawn parallels between SharpLink Gaming and Michael Saylor's Strategy (MicroStrategy). He is convinced that others will follow suit.
The same sentiment has been echoed by Bitwise Invest President Teddy Fusaro.
Rob Phythian, founder and CEO of SharpLink, is possibly positioning himself as Ethereum's Saylor by pivoting his company into Ethereum. Phythian has described the deal as a "significant milestone" for his company's journey.
In the future, SharpLink could potentially emerge as a proxy play for the leading alternative cryptocurrency.
The price of Ethereum (ETH) is up by 4% following the announcement.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
