Sharplink Gaming announced that he would spend $ 463 million to buy 176,271 ETH tokens, becoming the second largest holder in Ethereum. He has already marked 95% of his assets held and will probably repeat this model.
However, this massive bet can occur at an inappropriate time. Last night, when the company filed dry documents related to the purchase, its stock market price dropped by 70%, and the ETH then crushed for unrelated reasons.
Will the Sharplink Ethereum bet pay?
In recent weeks, the company’s Bitcoin acquisition has turned into a global trend, companies on most continents buying and holding BTC.
Although Bitcoin leads this race, some companies prefer altcoins and Sharplink’s decision to make this massive commitment to Ethereum is part of this phenomenon.
By spending $ 463 million on Ethereum, Sharplink is now the largest holder in the Etmons on the stock market. Indeed, only the Ethereum Foundation holds this asset more.
In its press release, the company seems to identify this strategy as its main business, briefly mentioning its game activity at the very end of its declaration.
“We believe that Ethereum is a fundamental infrastructure for the future of digital trade and decentralized applications. Our decision to make the ETH our main cash reserve asset reflects a deep conviction in its role of programmable digital capital and carrying out the yield, “said Rob Phythian, CEO of Sharplink Games.
The press release also mentioned that Joseph Lubin, co-founder of Ethereum and founder of Consensys, is currently president of Sharplink Gaming.
Last night, when Sharplink filed with the SEC concerning his ETH plans, Lubin went to social networks to clarify the position of the company. The confusion of social media caused a drop in prices of 70% of the company’s shares, and the damage persists.
However, Ethereum’s own performance is also a probable factor in the evaluation problems of Sharplink’s actions. ETH had a difficult year in 2025, and its recovery window could already end.
Despite institutional investment, the token suffers from leadership disputes and geopolitical developments. In the past 24 hours, the price of ETH fell by more than 7%.
However, these price slumps for Ethereum will not necessarily condemn SharpLink’s acquisition strategy. The company’s press release affirms that it already marks 95% of the held ETH sound and will probably repeat this model with its new tokens.
This will allow the company to collect passive yields and demonstrate its interest in long -term conviviality of the blockchain.
Nevertheless, a 70% drop in equity prices is difficult to swallow, especially because it happened before Eth Eth Krach. Sharplink makes a massive bet on Ethereum, but that may not work.
In any case, it will be a useful data point for merchants and industry observers.
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