SharpLink Just Bought 10,000 Ethereum and Sent Its Stock Soaring. Here's What Investors Need to Know.
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On July 11, SharpLink Gaming (NASDAQ: SBET) purchased 10,000 Ethereum (CRYPTO: ETH) from the Ethereum Foundation, marking the largest-ever direct Ethereum purchase by a publicly traded company. At today's prices, that Ethereum is now worth an estimated $36 million.But it's not just the size of the deal that has investors abuzz. It's also the fact that SharpLink has gone all-in on its new Ethereum buying strategy, even going so far as to add Joe Lubin, one of the co-founders of Ethereum, as its chairman. Perhaps not surprisingly, the price of SharpLink stock is now up 370% for the year. Here's what you need to know.In the span of just two months, SharpLink Gaming has turned its business model upside down and inside out. Until May 2025, the company was an affiliate marketer for sportsbooks and online casino operators. Hence the ticker symbol featuring the word "bet."Continue readingWeiter zum vollständigen Artikel bei MotleyFool
Quelle: MotleyFool