The American technology company Sharplink Gaming exchanges sports betting for crypto. The company wants to buy no less than $ 1 billion in Ethereum (ETH)-and has the support of none other than Ethereum founder Joseph Lubin.
Sharplink wants to invest billions in Ethereum
According to a recent application with the American stock market watchdog SEC, Sharplink is planning to use a large part of the proceeds from an upcoming stock sale for the purchase of Ethereum. In total, the company is aiming for an investment of no less than $ 1 billion. The first step has since been taken: through a private placement, Sharplink raised $ 425 million earlier this week, in which shares were sold directly to a select group of investors.
A striking name that has committed itself to this ambitious project is Joseph Lubin, co-founder of Ethereum and CEO of Blockchainbedrijf Consensys. He has been appointed chairman of the Sharplink board of directors-a clear signal that the company is seriously working on his new crypto race.
“Ethereum’s own Michael Saylor”
The strategy is strongly reminiscent of that of MicroStrategy, the software company of Michael Saylor, which became known worldwide for its billion -dollar investments in Bitcoin (BTC). Sharplink now seems to copy this model – but with Ethereum as a spearhead.
In the crypto community, the company is already compared to “Ethereum’s own Saylor”. The ambition: a listed company becomes that acts as a digital ETH reserve, similar to how MicroSstratey does that for Bitcoin.
Share increases by 2,678% after publication
The market reacted euphorically to the news. On May 23, the Sharplink share was still $ 3.80. A few days later it tapped a peak of $ 105.60 – an explosive increase of 2,678 percent.
Investors seem enthusiastic about the possibility of getting exposure to Ethereum through a traditional share, without having to buy or manage crypto themselves.
Source: https://newsbit.nl/amerikaans-bedrijf-wil-1-miljard-aan-ethereum-kopen-aandeel-explodeert-op-beurs/
