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SharpLink Gaming Launches $1.5 Billion Buyback Program: What It Means for Investors

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by Giorgi Kostiuk

2 hours ago

SharpLink Gaming (ticker SBET) announced a stock buyback program of up to $1.5 billion, drawing attention from investors and the crypto community.

What is a Buyback and Its Significance

SharpLink's buyback program allows the company to purchase its shares only when the stock price is below the net worth of its crypto assets. This ties the company's position to the growth of Ether, which is a unique approach.

Co-CEO’s Vision and Strategic Positioning

Co-CEO Joseph Chalom mentioned that the program is not designed for immediate execution, but rather as a strategic reserve to support long-term shareholder interests.

Market Reaction to SharpLink's Buyback Program

Following the announcement, SBET shares surged over 15%, closing at $20.87. Meanwhile, the company's market capitalization reached $3.5 billion.

The share buyback program from SharpLink could significantly impact its stock value and draw investor attention to cryptocurrency assets, with shareholders advised to monitor the price dynamics of ETH and SBET.

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