Sharplink again buys Ethereum: now owns almost $ 2 billion in ETH

Despite the recent fall in Ethereum (ETH), the American company Sharplink continues to purchase aggressively. Between July 28 and August 3, the sports data company invested no less than 264.5 million dollars in ETH. This brings the total possession to nearly 2 billion dollars.

Sharplink buys 83,562 ETH at race of 3.634 dollars

According to an update on X, Sharplink bought 83,562 Ethereum in six days at an average price of $ 3,634. The current rate is almost the same with $ 3,640, which indicates a relatively favorable moment of entry.

With this purchase, Sharplinks total ETH reserve increases to 521,939 ETH, good for a market value of 1.9 billion dollars. This keeps the company the number two under public Ethereum holders, behind Bitmine, which still has more than 310,000 ETH more.

From sports betting to Ethereum-Fonds

Until the beginning of 2025, Sharplink focused on sports betting. The developed software that sports fans converted through smart content into active gamblers.

However, since May this year, the company has started a radical change of course. Sharplink sold his sports activities and presented himself as an investment fund with one goal: stacking Ethereum.

The announcement led to an explosive rise in the share in May. From 2.90 dollars it shot up to a peak of $ 80 – an increase of no less than 2,658 percent.

Trust in strategy falters

After the initial hype, the stock price has since fallen sharply. Sharplink now acts at $ 18.84, partly due to questions about the feasibility of the ETH strategy and the current negative sentiment around Crypto.

Nevertheless, the company continues to focus on its Ethereum reserve. Whether that gamble pays out in the long term may be related to the wider market trend and the success of Ethereum Spot ETFs.