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SharpLink Gaming Proposes $1.5 Billion Stock Buyback Plan to Protect Shareholders

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by Giorgi Kostiuk

2 hours ago

SharpLink Gaming, one of the largest corporate holders of Ethereum, has announced a $1.5 billion stock buyback plan aimed to protect shareholder value.

Objectives of the Buyback

The buyback decision comes as SharpLink's stock trades near levels associated with the net asset value of its Ethereum holdings, with Ethereum priced at $4,304.19 according to CoinMarketCap.

SharpLink's Capital Strategy

Recently, SharpLink increased its investments in Ethereum by purchasing 143,593 ETH between August 10 and August 17 at an average price of $4,648. Its total ETH holdings now stand at 740,760 after raising $536.5 million through a direct offering.

Balancing Equity and Ethereum Exposure

SharpLink's leadership noted that future actions will depend on market conditions. The company has various options for share buybacks, but the plan may be suspended or canceled at any time, putting shareholders in a position to adapt to market situations.

The $1.5 billion buyback plan underscores SharpLink Gaming's serious commitment to protecting shareholder interests while increasing its Ethereum exposure.

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