1. Explosive Drama: Loss-Making Company Transforms to Hoard Coins, Stock Price Breaks Circuit 8 Times in One Day! 💥💥💥
SharpLink Gaming (SBET), an Online Tech Company in Minneapolis, USA, Has Done Something Big:
Raised $425 Million: Issued 69.1 Million Shares at $6.15 Per Share, Fully Used to Establish Ethereum Reserve Fund;
Market Riot: Within a Week After Announcement, Stock Price Soared from $5 to $65, Over 1000% Increase, Trading Volume Surged by 7200%, Triggered Circuit Break 8 Times in One Day!
Core Logic: This Company, with Only $4.95 Million Revenue and $11.25 Million Net Loss in 2023, Has Its Eyes Set on 'MicroStrategy-style Redemption' -
MicroStrategy Transformed to Hoard Bitcoin in 2020, Now Holds 580,000 BTC (Cost $66,000/Unit), Based on Current Price of $105,000, Unrealized Gains Exceed $22 Billion, Equivalent to Its Total Revenue Over 4,000 Years.
Seeing MicroStrategy Transform from a 'Loss-Making Company' to a 'Crypto Giant' by 'Buying Coins', SBET Decided to Copy the Homework: Can't Make Money from Main Business? Might as Well All In on Cryptocurrency, Betting for Financial Freedom!
2. Why Choose ETH Over Bitcoin? Three 'Smart' Calculations
1. Not Wanting to Boost MicroStrategy, Aiming to Become 'The First Person Hoarding ETH'
Bitcoin Market Cap $1.8 Trillion, SBET's $425 Million Can Only Buy 4,000 BTC, Not Even a Fraction of MicroStrategy's Holdings (580,000 BTC), Destined to Remain 'Invisible';
Ethereum Market Cap Only $300 Billion, If SBET Fully Buys ETH (Current $2,500/Unit), It Can Hold 170,000 Units, Directly Becoming the Largest ETH Hoarding Institution in the World, Defining Industry Discourse Power.
2. Betting on ETH's 'Price Low' and 'Institutional Blank'
Cost Performance Hit: ETH's Current Price Is Halved Compared to 2022 Peak ($4,800), While Bitcoin Is Close to Historical High, ETH 'Bottom Fishing' Imagination Space Is Larger;
Track Differentiation: Bitcoin ETF Size Exceeds $100 Billion, Institutional Layout Saturated; ETH ETF Only $10 Billion, SBET Enters Immediately Seizing Early Dividends of 'ETH Institutionalization', Considered 'Crypto's Pinduoduo' - Avoiding Red Ocean, Expanding Blue Ocean.
3. Creating a New Narrative: From 'Follower' to 'Rule Maker'
Bitcoin Market Dominated by Giants Like Grayscale and BlackRock, New Players Find It Hard to Stand Out;
The ETH Ecosystem Covers Diverse Scenarios Such as DeFi, NFT, Layer 2, etc., SBET Can Bind Ecosystem Development with the Concept of 'Reserve Fund', Even Issuing 'ETH-backed Financial Products', Creating a Narrative of 'Crypto Gold Reserve Company' to Attract Web3 Native Capital.
3. The 'Deadly Hidden Dangers' Behind the High-Stakes Gamble: ETH Inflation vs Institutional Faith
1. Is a 0.8% Inflation Rate 'The Wolf Is Coming'?
By 2025, ETH Annual Inflation Rate Rises to 0.805% (Annual Issuance of 3.47 Million Units, About $8.6 Billion), Closely Approaching Bitcoin, But Key Differences:
👍 Bitcoin Issuance Requires Miners to Invest Computing Power (Electricity Costs, Equipment Costs Support Price);
👎 ETH Staking Issuance Is Nearly 'Zero Cost', Validators Can Sell Without Pressure, Higher Selling Pressure Risk.Market Worries: If On-chain Activity Remains Low (Current Gas Fees Plummeted, Developers Flowing to Public Chains Like Solana), ETH Issuance May Further Climb, Impacting Price Consensus.
2. Can the MicroStrategy Myth Be Replicated? Is It a Bet on 'Faith' or 'Bubble'?
MicroStrategy's Success Relies on Two Key Timing Factors:
① In 2020, Bitcoin Was in the 'Early Stage of Institutionalization', Less Competition;
② The Federal Reserve's Massive Liquidity Injection Raised Prices of Risk Assets.SBET's Challenges:
① The ETH Ecosystem Is Highly Competitive, with Public Chains Such as Solana and Avalanche Sharing the Market;
② Under the U.S. Rate Hike Cycle, Cryptocurrency Valuation Logic Shifts from 'Narrative-driven' to 'Cash Flow-driven', Doubts Arise as to Whether Pure Hoarding Model Can Continue.
4. Who Will Be the Next 'Coin Targeted by Institutions'?
SBET Starts a New Play of 'Listed Companies Hoarding Coins', Which Crypto Assets Might Become the Next Target?
Solana (SOL): High-Performance Public Chain, Daily Active Users Over 5 Million, Recently Plummeted 35% and Returned to Valuation, Suitable for Institutional Bottom Fishing;
Cardano (ADA): Representative of Academic Public Chains, Staking Rate Over 70%, Annual Inflation Only 0.3%, Strong Compliance;
Polygon (MATIC): Leading Ethereum Layer 2, Bound to ETH Ecosystem, Annual Issuance Rate 0.4%, Potential 'ETH Complement'.
5. Retail Survival Guide: Understanding the 'Scythe Logic' Behind the Carnival
Beware of Narrative Bubbles: SBET's Stock Price Surge Is 'Concept Speculation' Rather Than 'Value Revaluation', Its Ability to Continue Buying Coins Is Doubtful (Requires Continuous Fundraising, Diluting Shareholder Rights);
ETH's Dual Attributes: In the Short Term, It Looks Like 'Institutional Hoarding Narrative', in the Long Term, It Depends on 'Ecosystem Implementation Progress'; If DeFi User Numbers and Layer 2 Transaction Volumes Do Not Grow, the Bubble Will Eventually Burst;
Position Management: Crypto Asset Allocation Should Not Exceed 10% of Total Assets, Stay Away from 'Financial Report Losses + High Volatility' Speculative Targets.
Conclusion: An Ultimate Showdown Between 'Gambling' and 'Rationality'
SBET's Madness is Essentially a Capital Bet on 'Cryptocurrency Reserves' - Some See the 'Rise of a New Narrative', Others See 'The Emperor's New Clothes'.
Historical Lessons: In 2021, 'Shitcoin' (SHIB) Soared 200,000 Times Due to Elon Musk's Tweet, Ultimately 99% Drop Leaving Retail Investors Trapped;
Current Reality: MicroStrategy's Success Is Not Replicable, The 'Hedge Attribute' of Cryptocurrency Has Not Yet Withstood Economic Downturn Tests.
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