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SharpLink Gaming, Inc. (SBET) Stock: Soars 14% After Bold 10,000 Ethereum Deal with Ethereum Foundation
In a remarkable turn of events, SharpLink Gaming, Inc.’s (SBET) stock has skyrocketed an astonishing 14% following the company’s bold announcement of acquiring 10,000 ETH from the Ethereum Foundation at an average price of $2,572.37 each for a staggering sum of $25,723,680.
This aggressive move by SharpLink marks a significant shift in its business strategy, as it prioritizes Ethereum (ETH) as its primary treasury reserve asset. The stock soared to new heights after the news broke out, settling slightly higher at $21.08 by 10:49 AM EDT.
The acquisition of 10,000 ETH has catapulted SharpLink into the second-largest corporate holder of Ethereum globally, further solidifying its position in the market. This bold strategy aligns with the Ethereum Foundation’s goal of expanding institutional engagement and fostering a strong network for long-term sustainability.
SharpLink’s stock price surged as investors reacted positively to this blockchain-centric shift, which will now allow it to support decentralization and DeFi infrastructure while reducing the circulating supply of ETH.
Source: coincentral.com
