Betting company Sharplink Gaming (SBET) has created a new billionaire purchase of Ether (ETH), the native cryptocurrency currency of the Ethereum network.
On this occasion, SBET added a total of 21,487 ETH to his Corporate Treasury Department, adding $64.26 million. In this way, The signature cited in Nasdaq has 237,444 units of Ethereum currency.
According to data from LookonChain Explorer, the acquisition was carried out through OTC operations (over the counter or “outside the counter” in Spanish). These are private transactions that allow institutions to move in large quantities without affecting market prices.
Another part of the purchase was created by Coinbase Prime, an institutional Coinbase platform designed to operate and protect cryptocurrency on a large scale. It should be clear that the new ETH acquisition has been completed four hours after SBET announced an agreement with the Ethereum Foundation to purchase 10,000 ETH for $25 million.
This move is part of the context of the expansion of institutional fever through ETH. As Cryptoics reports, there are more than it is now 1 million coins in the hands of businessesFoundations, DAOs, Decentralized Financial Protocols (DEFI) and government agencies.
More and more companies They are studying the possibility of issuing debts To get quick cash and funds, ether purchases do not need to rely on operating income.
This is a similar strategy designed by strategy CEO Michael Saylor, with the difference being that instead of Bitcoin (BTC), these companies accumulate ETH and earn extra income through staking.