The actions of the Sharplink sports marketing company (SBET) increased 412% on Tuesday after it announced plans to create an Ethereum
Treasury reserve strategy with the participation of Blockchain co -founder, Joseph Lubin.
The Minneapolis headquarters, founded in 1995, is currently traded at $ 34.45, compared to $ 7 on Friday, with a market capitalization now $ 23 million.
The company is raising approximately $ 425 million through a private investment offer in public capital (PIPA). The income will be used to buy ether, which will then serve as the main asset of the Treasury Reserve.
Ethereum’s software developer, Consensys, who was also co -founded by Lubin, was the main investor with a greater participation of Panther Capital, Galaxy Digital and Ondo, among the smallest names.
The offer is expected to close on May 29, according to the statement. Lubin will become president of the Board of Directors at the close.
Sharplink joins an increasing number of microcap companies that try to imitate the success of the strategy (MSTR), the first company to adopt a bitcoins
Treasury strategy, resulting in an increase of more than 3,000% of the price of its shares in the last five years.
In that sense, Trump Media & Technology Group (DJT) announced on Tuesday a capital increase of $ 2.5 billion to start a Bitcoin Treasury strategy.
