SharpLink Gaming, a company actively involved with Ethereum, has announced a new acquisition of tokens worth $147 million, reinforcing its well-planned investment strategy.
SharpLink Gaming's New Investment
SharpLink Gaming (SBET) has extended its Ethereum buying strategy, investing another $147 million into the token. The latest purchase occurred over the weekend, as ETH's price returned to around $3,900.
ETH Purchase and Distribution
Blockchain data shows SharpLink opened a new wallet for executing purchases and subsequent ETH distribution. The latest purchase was conducted using USDC stablecoins and carried out on multiple exchanges. Previously, SharpLink Gaming also acquired ETH through an OTC deal with the Ethereum Foundation.
ETH Reserves Growth
According to additional data, SharpLink received up to 77,210 ETH, totaling 438,017 ETH in its reserves. However, it still lags behind BitMine, which holds 566,776 ETH. Nevertheless, SharpLink is the largest publicly trading entity with an ETH treasury.
SharpLink Gaming's recent purchases indicate its confident strategy for accumulating Ethereum reserves. Amidst growing interest in ETH and increases in treasury assets, a clear trend towards enhancing market influence among companies is observed.
