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A Company Listed on Nasdaq Announced That It Has Purchased a Massive Amount of Ethereum! It Became the Largest ETH-Holding Company in the World!
The company Sharplink Gaming, listed on Nasdaq, announced that it has purchased 463 million dollars worth of Etheruem (ETH).
According to the official statement, the company purchased 167 thousand ETH for a total value of 462.947 million dollars at an average buying price of 2,626 dollars per Ethereum.
This purchase positions Sharplink Gaming as the largest publicly traded holder of ETH in the world and the second largest holder after the Ethereum Foundation.
According to the explanation, by June 13, 2025, more than 95% of SharpLink's ETH assets will be staked or used in liquid staking.
This situation provides local yield while contributing to the security of the Ethereum network.
The company raised $79 million through a stock sale to support the buy out and adopted ETH as its primary treasury reserve asset.
Rob Phythian, CEO of SharpLink Gaming, stated, "This is a turning point for SharpLink and the adoption of digital assets by public companies. We believe that Ethereum is a fundamental infrastructure for the future of digital commerce and decentralized applications. Our decision to make ETH our primary treasury reserve asset reflects our deep belief in its role as programmable, yield-generating digital capital."
SharpLink Gaming President and Ethereum Co-Founder Joseph Lubin said the following regarding the ETH buy out:
"SharpLink's bold ETH strategy represents a significant milestone towards the institutional adoption of Ethereum and an innovative approach. It comes at a unique time when the U.S. Congress is moving forward with important legislation on stablecoin and digital asset market structure."
We hope that such regulations will serve as a catalyst for the adoption of Ethereum technology, a decentralized network that can perform many functions in the participation of the global economy.
By allocating a significant amount of capital to ETH and distributing it to network activities such as staking, SharpLink contributes to the long-term security and reliability features of Ethereum while also earning additional ETH for this work.
*This is not investment advice.
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