Alliance Games and Entertainmentthe NASDAQ registered eSports and Gaming Company announced its investment Bitcoin and Ethereum As part of the new “Corporate Financial Management Strategy.”
In response, the shares traded under Ticker’s Agae rose 105% to $1.87 early on Friday, then soaked at $1.65. TradingView– Increases 71% that day.
The company explained that this is just a “first step” to incorporate crypto into its balance sheet as it plans to tease and plans to plan a broader embrace of the blockchain. Real World Assets Initiative.
The exact figures for that Bitcoin and Ethereum investment are: release. Decryption I reached out to see the details but didn’t receive a response immediately.
“We look at cryptocurrencies not only as cryptocurrencies, but also as a strategic component for the future of our business,” Agae CEO Yangyang James Li said in a statement. “Integrating blockchain and digital assets into the ecosystem is a natural advancement in our vision to connect people through gaming, entertainment and innovative financial technology.”
Allied Gaming & Entertainment is a company focus Mainly about entertainment in the e-sports game scene. It owns and operates Hyperx eSports Arena, a 650-person venue in Las Vegas that hosts events like 2019 League of Legends All Stars Matches and events Ethereum-based card battler parallel last year.
It was released in 2017 and debuted at $9.54, reaching an all-time high of $12.11 in October 2018. TradingView. Since then, inventory has gradually turned downwards. However, the latest crypto announcement gave us much needed boosts, and its value has now doubled in an instant.
eSports Company’s future initiatives include the possibility of cryptocurrency payments, the creation of tokenization models for IP monetization, and the integration of Stablecoins and utility tokens within the “company digital ecosystem.”
The announcement is merely the latest addition to the flood of publicly traded cryptocurrency companies emerging in the US.
It started from the beginning Michael Sayler‘s MicroStrategyNow, as a business intelligence software company, it’s just a strategy that pivoted to focus on getting Bitcoin. It’s now kept 638,460 BTCor $73.6 billion worth of Bitcoin 7% of total supply.
Since Crypto Pivot has been following many others, it has been a fierce success in the marketplace of strategy.
especially, Sharplink Games and Bitmine Immersion Technologies BMNR owns $9.4 billion worth of ETH and SBET, and for each data from it, it may be that $9.4 billion worth of ETH and SBET have earned $3.8 billion worth of ETH. Strategic ETH Reserves– Secure 2.4% of the Ethereum supply between them.
But it’s not just a big name. There is also a company from the Ministry of Cryptocurrency for Elon Musk’s favorite meme coins DogecoinSolanamime Coin Bonkand Altcoins solana, xrp, and sui.
This trend has led some industry observers to grow with concern that it could be a Black Swan event that drags this cycle down. FTX collapse Past.
However, Joseph Chalom, co-CEO of Sharplink Gaming, said Decryption last week “It’s definitely not. Rather, he said the Ethereum Treasury push would be a positive “swan” event by educating institutional investors about cryptocurrencies.