SharpLink Gaming, backed by Joseph Lubin, increases equity to purchase $515 million worth of Ether in just nine days. The company plans to use the proceeds to acquire Ether and for general corporate purposes. If they buy $6 billion of ETH, they would hold nearly 1.38% of the circulating supply.

SharpLink continues to acquire ETH, becoming the largest corporate holder of ETH. The company currently holds over 280,000 ETH, with 99.7% being staked. They have generated 415 ETH, worth $1.49 million, as a staking reward between June 2 and July 15.

Following an increased share offering, SharpLink purchased 32,892 ETH, valued at $115 million. In total, the company has spent $515 million on ETH in the past nine days. Galaxy Research noted that this move is a positive catalyst for the Ethereum ecosystem.

Sharplink Gaming stock (SBET) saw a 2.62% decrease to $36.40 at the closing of Thursday’s trading session. The stock fell further by 4.95% to $34.60 in after-hours trading. SBET is up 350% year-to-date but down 54% from its May 29 high of $79.21. Quarterly results are expected on Aug. 13.

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1. Bitcoin hits new record high of $63,000 as institutional investors continue to show interest in cryptocurrency. Market cap surpasses $1 trillion for the first time, with trading volume reaching $80 billion. Experts predict further growth as adoption increases.

2. Ethereum also sees surge in value, reaching $2,500 as demand for decentralized finance (DeFi) platforms grows. Market cap tops $300 billion, with trading volume exceeding $30 billion. Analysts expect continued upward trend for the second largest cryptocurrency.

3. Dogecoin experiences sharp increase in price, hitting all-time high of $0.40 following endorsement from Elon Musk and other celebrities. Market cap surpasses $50 billion, with trading volume spiking to $40 billion. Speculation and social media hype drive surge in meme-based cryptocurrency.: SharpLink Plans To Sell Stock Worth $5B To Buy ETH