SharpLink Gaming made significant purchases of ETH, raising its reserves to 270,000 tokens, becoming the largest public ETH holder.
Latest $49 Million Purchase
In the five days leading up to July 14, SharpLink Gaming acquired 60,582 ETH worth approximately $180 million. Specifically, on July 14, the company bought 16,374 ETH for around $49.03 million, bringing its total reserves to 270,000 ETH.
SharpLink Stock Jumps 17%
SharpLink Gaming’s stock, listed as SBET on NASDAQ, reacted positively to the purchase news, increasing by 17.15% in the last 24 hours. According to Google Finance, shares closed at $21.65 on July 14.
New Strategies from Organizations Regarding ETH
An increasing number of publicly traded companies are shifting their treasury strategies toward Ethereum. For example, GameSquare announced plans to build a $100 million ETH reserve, while Bitmine is committing $250 million to build its reserves.
SharpLink Gaming's ongoing investments in ETH reflect growing confidence among companies in Ethereum's long-term effectiveness. This trend is likely to gain traction among public organizations.
