The Nasdaq-listed company SharpLink Gaming (SBET), currently the largest holder of Ethereum in the world, just bought an additional 32,892 ETH (equivalent to $118.8 million) on Thursday, indicating their optimistic outlook on Ethereum's prospects.
According to data from Arkham Intelligence, this morning (Vietnam time), SharpLink bought 18,712 ETH from Galaxy Digital, and then continued to purchase an additional 14,180 ETH from Coinbase Prime.
This buying move occurred just a few days after SharpLink – a sports marketing and betting software company – surpassed the Ethereum Foundation to become the largest holder of ETH, with a total of over 353,000 ETH, worth $1.27 billion.
In the past 9 days, SharpLink has consistently been 'accumulating' a total of 144,501 ETH.
On the same day, the company backed by Consensys and Ethereum co-founder Joseph Lubin updated the prospectus submitted to the U.S. Securities and Exchange Commission (SEC), raising the permitted stock sale limit from $1 billion to $6 billion – a move that may aim to accelerate the strategy of purchasing ETH.
Meanwhile, the price of ETH continues to rise strongly thanks to the overall market recovery, currently trading around $3,600, up 8% in the past 24 hours, according to data from Bitcoin Magazine.
If the buying momentum of listed companies continues to be strong like this, the goal of ETH rising to $10,000 in 2025 is not difficult.
SharpLink's stock closed Thursday's session down slightly by 2.62% to $36.4, according to Yahoo Finance. However, this stock has increased by 96.96% in the past 5 days and achieved an impressive increase of 373.96% year-to-date.
