What's up, my people, are you ready for the hot news I bring you? 🔥 Get comfortable because things are getting good in the world of finance and technology, and a piece of information has come out that is leaving more than one person with their mouth open.
It turns out that GameSquare Holdings, one of those companies listed on Nasdaq (meaning, the big leagues), just made a move that is pure audacity. Remember when MicroStrategy jumped in with Bitcoin? Well, GameSquare is doing something similar, but they have their eye on Ethereum. Just as you hear it! 🤑
Imagine that they decided to put 100 million dollars 💸 into a treasury strategy with Ethereum. The CEO, a certain Justin Kenna, dropped the info and said that the idea is to achieve a return of 8 to 14%, a number that outstrips what you would normally get! This is serious business, a move towards decentralized finance or, as they call it, DeFi. 🚀
To kick things off, they didn’t beat around the bush and already purchased 5 million dollars in Ethereum, which was enough to acquire about 1,818 coins at a price of $2,749 each. And where did the money come from? Well, partly from a stock sale they made for 8 million dollars.
As soon as the news broke, GameSquare's shares skyrocketed by 58%. What a madness! 🎉 This shows that investors are sharp and love this move with cryptocurrencies. This is not just a play for the company, but it also gives a pat on the back to the Ethereum ecosystem, attracting more interest from big companies. Of course, when the money moves like this, it also raises the pressure on regulators. 🤨
This move by GameSquare is a clear signal that traditional finance and the world of cryptocurrencies are merging. It’s a giant step and puts the company in the same club as other visionaries. So, the question is, will we see more companies follow this path? Things are heating up and we have to stay very alert. 👀$ETH
