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SharpLink Gaming Is Raising $1 Billion To Buy More Ethereum For Its Massive Treasury Bet

  • SharpLink Gaming is seeking to raise $1 billion by selling shares of its common stock to purchase more Ether for its treasury, following a strategy similar to MicroStrategy's Bitcoin approach.
  • The company aims to use the proceeds from the offering to acquire Ether (ETH) as a treasury reserve asset, alongside utilizing funds for working capital, operating expenses, and marketing operations.
  • SharpLink recently announced an Ether-based corporate treasury strategy and appointed Ethereum co-founder Joseph Lupin as chairman of its board of directors.
  • The move by SharpLink to amass Ether mirrors the success MicroStrategy had with Bitcoin, becoming one of the largest corporate holders of the cryptocurrency, signaling a growing trend in the market.

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