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.