Sharplink Gaming continued its Acquisition Acquisition Acquisition Strategy, buying an additional 15,822 ETH worth around 53.9 million dollars.
Summary
- Sharplink added 30,755 ETH for $ 108.6 million, bringing his assets to 480,031 ETH.
- The whole treasure is marked out and leadership includes the ex-cadres of BlackRock and Consensys.
- Analysts are divided, with a certain institutional impulse Praiing and others warning of the overvaluation.
According to an article of August 3 on X by Lookonchain, the company spent $ 108.57 million in USD parts (USDC) in the previous two days to acquire 30,755 Ethereum (ETH) at an average price of $ 3,530 per token. With this last purchase, Sharplink now holds 480,031 ETH, worth $ 1.65 billion.
The company has modeled its approach to the Bitcoin (BTC) game book (BTC), using the capital markets to build a great Treasury of ETH. The main financing laps include a private internship of $ 425 million completed in May and $ 413 million raised thanks to the issue of shares in July.
The management of the company has also evolved to support this strategy. On July 25, Sharplink appointed Joseph Chalom, former head of the digital active strategy in Blackrock, as CO-PDG.
Chalom previously helped manage Ishares Bitcoin and Ethereum’s trust, with $ 87 billion and $ 10 billion in assets, respectively. The co-founder of Ethereum and chief executive officer of Consensys, Joseph Lubin, is chairman of the board of directors.
Competition between Ethereum cash companies
Sharplink briefly became the largest holder of the ETH company on July 19, exceeding the reserve of 233,000 ETH in the Ethereum Foundation. However, it was quickly exceeded by Bitmin Immersion Technologies, which contains 625,000 ETH and is supported by Peter Thiel. As of August 4, 63 companies collectively hold 2.74 million ETH, worth $ 9.71 billion, according to data from Strategic ETH Reserve.
Analysts claim that Sharplink’s activity reflects the growing role of Ethereum as a strategic reserve ratio. Many indicate that the dominant role of Ethereum in the quickly emerging sectors such as stablecoins and tokenization as signs of a strong network dynamics.
However, not all observers are convinced. A Seeking Alpha analyst argues that the actions of Sharplink, Sbet, are negotiated at almost 4 × the value of his ETH assets, calling it speculative and overvaluation. He suggests that investors can be better served by direct purchases of ETH or negotiated funds on the stock market, which avoids the premium.
Despite mixed opinions on the evaluation, Sharplink’s actions have climbed 35% in the last month and 112% of years to date, making it one of the most observed public companies.
