SharpLink Gaming Amasses 464,000 ETH Worth $1.62 Billion Following MicroStrategy Model
Main Idea
SharpLink Gaming has adopted a MicroStrategy-style strategy to accumulate 464,000 ETH worth $1.62 billion, reflecting strong institutional confidence in Ethereum's long-term potential.
Key Points
1. SharpLink Gaming spent $108 million to acquire 14,933 ETH at approximately $3,550 each, transferring 53 million USDC to Galaxy Digital for the purchase.
2. The company's total ETH holdings now stand at 464,000 ETH, valued at $1.62 billion, with an unrealized gain of $214 million.
3. SharpLink's aggressive buying strategy mirrors MicroStrategy's approach, signaling institutional trust in Ethereum's growth potential.
4. On-chain analyst Yu Jin notes that SharpLink's large-scale ETH accumulation could stabilize market demand and contribute to long-term price appreciation.
5. The average purchase price of SharpLink's ETH holdings is around $3,029, below the recent market price of $3,550.
Description
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