SharpLink, whose shares trade under the ticker SBET, disclosed that it now holds about 205,634 ether, purchased at an average price of roughly $2,604
SharpLink, whose shares trade under the ticker SBET, disclosed that it now holds about 205,634 ether, purchased at an average price of roughly $2,604. The position carries a cost basis of around $535.6 million and is currently valued near $522.8 million, leaving the company with an unrealized loss of approximately $12.8 million, or 2.4 %.
The company added about $20 million in ether during the week ended 4 July, pushing the total market value of its crypto treasury past $500 million. The latest accumulation helped lift SBET shares roughly 12 % at the open on 8 July, as investors focused on the firm’s accelerating move to build one of the largest ether holdings among publicly traded companies.
Observers noted that SharpLink’s strategy puts it in the running to become the first public company with $1 billion worth of ether if current purchase pace and market conditions continue.
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