Sharplink Gaming Loads Up on $ETH.
Sharplink is raising $400M via a share sale at $21.76 each, aiming to push its ETH stash past $3B—around 1% of all ETH.
They already hold ~598,800 $ETH worth $2.5B, and will add $200M from their market program to stack even more.
Shares hit $28 intraday before closing at $22.34, still up 17% in a week.
Co-CEO Joseph Chalom says the $1.3B+ raised over two weeks shows faith in $ETH and their strategy.
Analysts see public treasuries holding up to 10% of ETH someday, but warn of liquidity and DeFi risk.