Game companies bet on Ethereum, making a shocking profit of 500 million on Wall Street
Nasdaq-listed company SharpLink Gaming recently made big news. This gaming company has been quietly buying Ethereum since June this year, and now it has a paper profit of over 500 million USD, along with 838728 ETH in hand — this has stunned Wall Street analysts.
It’s worth noting that just four months ago, when SharpLink's CEO said they would convert the company's cash reserves into Ethereum, many investors questioned whether this decision was too risky. But looking back now, this move turned out to be brilliant.
Compared to another company, MicroStrategy, which crazily stockpiles Bitcoin, SharpLink's choice of Ethereum is actually more insightful. Ethereum not only allows for 'staking for interest' (holding coins to earn interest), but it can also be utilized on decentralized finance (DeFi) platforms, making it a truly 'money-generating asset.' In this 500 million USD profit, not only has the rise in coin price contributed, but the rewards from staking also make up a significant portion. This model of earning from two sources makes traditional cash management methods look outdated.
Interestingly, SharpLink's success has triggered a chain reaction. Several CFOs of listed companies have started to rethink their financial strategies. Previously, corporate reserves were generally held only in USD and government bonds, but now they are surprisingly starting to consider digital assets — this is not just a simple investment decision; it’s practically betting on what the future financial system will look like, and SharpLink has clearly made the right bet. $BTC