The American technology company Sharplink Gaming will add Ethereum (ETH) to the company balance. For example, it is not Bitcoin (BTC), but the largest altcoin that gets the confidence of a listed company.
Not BTC, but ETH on the balance
It is a popular trend: companies put Bitcoin on the balance as a weapon against the murderous inflation sample. The largest crypto coin is increasingly seen as digital gold: a scarce and decentralized store-of-value. Ethereum, on the other hand, is a lot more functional. It is often called digital oil, the fuel of the decentralized world of web3.
A completely different ideology than Bitcoin, but that attracts Sharplink gaming.
Today the company announced that the ETH will include in its reserves. And a large amount will be invested immediately. The company raised no less than 425 million dollars through a private investment round, part of which will go to the crypto coin.
Ethereum developer Consensys was one of the investors and CEO Joseph Lubin, also the co-founder of Ethereum, has been appointed chairman of the board of directors. He announced that he was enthusiastic about the collaboration: “Consensys is looking forward to working with Sharplink exploring and developing an Ethereum Treasury Strategy and to support them in their core activities as a strategic adviser.”
Sharplink’s share price rose considerably after the press release: from less than $ 7 to nearly $ 33.50, an increase of around 400%.
The deal is expected to be completed on or around 29 May, if everything goes according to plan.
Not the first company that chooses the Altcoin
A few months ago, Bionexus Gene Lab Corporation also announced that it would reserve part of his balance for Ethereum (ETH).
There have also been companies that chose ETH, but returned to it later. For example, the Chinese tech company Meitu sold its cryptoactiva at the end of 2024, including more than 31,000 ETH. Boyaa Interactive and Reddit also decided to sell their Ethereum positions,
Source: https://newsbit.nl/amerikaans-techbedrijf-start-ethereum-reserve-aandelen-stijgen-400/
