SharpLink Gaming: Another Overpriced Ethereum Wrapper
2025-07-18 12:16:16
Main Idea
The author discusses their focus on Ethereum (ETH-USD) and Bit Digital in recent articles, while disclosing personal investment positions and clarifying their non-advisory role.
Key Points
1. The author has written multiple articles in July about Ethereum (ETH-USD) and Bit Digital.
2. The author discloses a beneficial long position in BTC-USD and ETH-USD.
3. The author clarifies they are not an investment advisor.
4. The article includes a standard disclosure from Seeking Alpha about past performance and non-recommendation.
Description
Summary SharpLink Gaming's stock surge is driven solely by its Ethereum holdings, not underlying business fundamentals or revenue growth. SharpLink has aggressively raised capital to buy ETH, now holding over 280,000 ETH, with nearly all assets staked for rewards. SBET stock trades at almost 4x the value of its ETH holdings, making its valuation excessive compared to simply owning ETH or ETFs. Despite being bullish on Ethereum, I see SBET's price as speculative and would avoid the stock at this ...
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