#Over 100 Companies Hold Over 830,000 BTC#
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Interpretation: Why the ETH version of MicroStrategy chose SharpLink and what its importance is.
Source: Eric Conner, encryption KOL; Translated by AIMan@Golden Finance
Ethereum co-founder and ConsenSys founder Joe Lubin has just launched ETH version of MicroStrategy.
He launched the first ETH treasury management company listed on NASDAQ by making a $425 million PIPE investment in the small company SharpLink Gaming with NASDAQ code SBET(. Saylor's strategy is now running on Ethereum.
Why Choose SharpLink?
SharpLink's pre-transaction valuation is approximately $10 million, with almost no trading on NASDAQ. It issued 69 million new shares at a price of $6.15 per share, transferring over 90% of control to the ETH organization, without the need for SPAC, without an IPO roadshow, and with real-time quotes.
Capital Scale and Allocation
$425 million to purchase approximately 120,000 ETH at a price of $3,500.
The plan may be to stake the majority of ETH and turn $SBET into a high beta, profitable ETH leverage.
ETH Version of MicroStrategy Flywheel
Low-cost financing;
Buy + Stake ETH;
If the stock trading price is higher than the price per share of ETH, raise more cash;
Refinancing. ETH version of MicroStrategy.
Importance
Observation Indicators
Important Notice
This is not the long-rumored ConsenSys IPO. This is just a quick reverse merger aimed at testing market demand before a larger-scale listing for ConsenSys.
Benefits for ETH Holders
Supply compression, new narrative fuel, potential leverage through equity packaging.
ETH moves towards a positive milestone for mainstream asset balance sheets.