Why This SharpLink Whale Holds Millions in SBET—But Not Ethereum
SharpLink Whale holds approximately $3 million in SharpLink Gaming stock (SBET) but does not own any Ethereum. He began buying SBET at around $14, capitalizing on the initial hype surrounding the company's Ethereum treasury plans. SharpLink Gaming, which rebranded to focus on Ethereum, raised $425 million to acquire 438,190 ETH worth $1.647 billion. The whale believes Ethereum will reach new all-time highs and warns against investing in copycat treasury firms, citing concerns over safe custody and yield management. He views Joseph Lubin's involvement as crucial for SharpLink's success. Despite fluctuations in his portfolio, he has realized over $2.5 million in profit from SBET and is considering diversifying into more stable assets like Bitcoin due to the volatility of his current holdings.
