The marketing company SharpLink acquired 176,000 ETH for $463 million.
It has become the largest public holder of the asset. The average purchase price of 1 ETH, including all expenses, was $2,626.
More than 95% of all coins are used in staking and liquid staking. Thus, the company not only supports the security of the Ethereum network but also generates passive income.
The CEO of the company called ETH "the fundamental infrastructure of the digital trade of the future."
According to him, the decision to make Ethereum a reserve asset underscores the company's belief in blockchain as a source of income-generating capital.