Why This SharpLink Whale Holds Millions in SBET—But Not Ethereum
Main Idea
A pseudonymous investor known as 'SharpLink Whale' holds over $3 million in SBET, the stock of Ethereum treasury company SharpLink Gaming, believing in its potential despite not owning Ethereum directly, due to trust in the company's management and strategy.
Key Points
1. SharpLink Whale holds approximately $3 million worth of SBET, the stock of SharpLink Gaming, an Ethereum treasury company, but does not own Ethereum directly.
2. He started purchasing SBET at around $14 and has realized over $2.5 million in profit, despite current holdings being down $126,000 from his buy-back price.
3. SharpLink Gaming raised $425 million to purchase ETH, now holding 438,190 ETH ($1.647 billion), with Ethereum co-founder Joseph Lubin on its board.
4. The investor trusts SharpLink's management, particularly Lubin, to custody ETH safely and generate yield, avoiding other crypto treasury copycats.
5. SharpLink Whale made his initial investment from profits on Coinbase and Nvidia stocks and compares his story to the 'Dogecoin Millionaire,' who profited from DOGE.
Description
SharpLink Whale currently holds more than $3.2 million worth of SBET, but literally no Ethereum—here’s why.
Latest News
- CrediX Team Vanishes as Stability DAO Preps ‘Legal Report’2025-08-08 18:31:47
- Coinbase Rolls Out DEX Trading on Its App Starting With Base—And Solana 'Coming Soon'2025-08-08 18:07:11
- XRP Army Celebrates Being on 'Right Side of History’ as SEC’s Ripple Lawsuit Ends2025-08-08 17:52:21
- Ethereum Cracks $4,000 for First Time in 8 Months2025-08-08 17:00:52
- SEC DROPS XRP CASE, ETH NEARS $4K AGAIN, GOLD HITS ATH2025-08-08 16:56:37