The listed sports betting company Sharplink Gaming has again considerably increased its investment in Ethereum (ETH) this week. The company bought tens of millions in extra ETH and now positions itself as the largest Ethereum owner among listed companies.
Sharplink again buys millions from Ethereum
The shares of Sharplink (SBET) rose by seven percent on Tuesday and closed at 9.66 dollars, after it became known that the company has purchased thirty million dollars in extra ETH. In total, Sharplink bought 12,207 Ethereum tokens at an average price of $ 2,513 each. The company now has more than 188,000 ETH, good for a market value of $ 457.4 million.
The expansion was financed through the issue of 2.54 million new shares, which was raised 27.7 million dollars. The majority of this yield was immediately used to strengthen the Ethereum position.
Ethereum fully deployed through a strike
Sharplink has already secured his Ethereum through a strike. That is a method where you temporarily ‘lock’ your crypto to help secure the network – in exchange you get rewards. With the use of 120 ETH alone, the company managed to achieve a first return of $ 293,000.
Behind this ambitious strategy is Joseph Lubin, co-founder of Ethereum. Since May he has been chairman of the board of Sharplink. According to Lubin, the large -scale deployment on ETH must in the long term deliver considerable value for the shareholders.
Large investors also focus on Ethereum
Sharplink is not the only one who gambles full on Ethereum. Large institutional investors, also called ‘whales’, are again moving billions to ETH. One party recently opened a lifting tree position of 101 million dollars. Another investor bought 39 million this weekend from ETH.
In May and June, Sharplink already raised hundreds of millions for earlier ETH purchases. With a total of more than 188,000 ETH on the balance, the company is now the absolute leader under listed crypto investors.
More than a quarter of all Ethereum are stuck
According to recent figures, more than 28 percent of the total ETH offer has since been detained in strike contracts-in total there are more than 35 million tokens. Despite tensions in the world, such as the conflict between Israel and Iran, the confidence of large parties in Ethereum continues to increase.
With Joseph Lubin at the helm, Sharplink seems to embody that trust – and maybe even to steer.
Source: https://newsbit.nl/sharplink-breidt-ethereum-investering-uit-met-30-miljoen-aandelen-stijgen-7/
