Sharplink Gaming made a significant purchase of Ethereum, increasing its reserves and strengthening its position among institutional holders of cryptocurrency.
Massive ETH Purchase
From July 28 to August 3, Sharplink Gaming acquired 83,561 ETH for $264.5 million, averaging $3,634 per unit. This increased the company’s total reserves to 521,939 ETH, representing an impressive 19% rise in just one week.
Evolution of Accumulation Strategy
This purchase follows earlier deals worth $54 million made in August. Sharplink employs a 100% staking strategy on its holdings, providing steady passive income. Since June, a total of 929 ETH in rewards has been withdrawn, validating the profitability of this approach.
Future Investment Perspectives
Joseph Chalom, co-CEO of Sharplink, stated in an interview that the company is exploring various financing options for further increasing its ETH purchases. This may include debt financing or capital increases.
These developments underscore the important role of Ethereum in corporate reserve strategies and signal significant shifts in institutional approaches to cryptocurrencies.
