$ETH has finally found its own MicroStrategy moment
SharpLink Gaming ( $SBET) announced a $425M raise and they’re using that money to buy ETH as a treasury asset…
At $3.5K, that’s around 120,000 ETH
But whats interesting is:
If $SBET starts trading above the ETH they hold per share, they’ll raise more money and buy even more ETH.
And yeah, they’re not just gonna hold it… they’ll stake it too.
This could be huge.
Wall Street started taking Bitcoin seriously when MicroStrategy started buying. Could be ETH’s turn now…
Also worth noting that CME ETH shorts are at all-time highs right now.
If this ETH treasury narrative spreads, and price moves up, we might even see a short squeeze.
Not saying ETH will 5x like BTC did after MicroStrategy bought it…
But if we even get half of that, it’s gonna be wild.
