Is an Ethereum version of MicroStrategy coming?

Shares of SharpLink Gaming soared over 600% in the US stock market, announcing a private placement of $425 million to purchase ETH.

SharpLink Gaming announced today that it has signed a securities purchase agreement for a $425 million public company private investment in public equity (PIPE), with Consensys Software Inc. as the lead investor, and participants including well-known crypto venture capital firms like ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital.

SharpLink plans to use the raised funds to purchase Ethereum as the company's primary treasury reserve asset.

After the transaction is completed, Ethereum co-founder and Consensys founder and CEO Joseph Lubin will serve as the chairman of the SharpLink board and will assist the company in developing its core business as a strategic advisor.