Joe Lubin, one of the founders of Ethereum, announced that his leader Sharplink Gaming aims to accumulate Ethereum (ETH) as soon as possible.
Joe Lubin from Sharplink: “We’ll be the fastest to collect Ethereum.”
With this aggressive strategy, the company aims to prevail over its competitors in the competition for the in-facility Ethereum Treasury.
Rubin said in an interview:
“When it comes to the accumulation of fully diluted Ethereum per share, we are the fastest advancements among Ethereum-focused projects.
Sharplink Gaming is expanding Ethereum reserves by raising funds daily through market funding methods. The company is also investing existing ETH Holdings through staking, aiming to increase its position by reinvesting these returns.
Joe Lubin is also known as CEO of Ethereum Infrastructure Company Consensys and one of the eight founding members of Ethereum.
Sharplink is currently in second place with 360,800 ETH (approximately $1.35 billion). Tom Lee’s Bitmine Immersion Technologies holds the top spot, holding 566,800 ETH (approximately $2.13 billion).
Other names in the top five of ETH Holdings include Ethereum Foundation, Ether Machine and Pulsechain. Large players like Coinbase, Bit Digital and Golem Foundation also hold over 100,000 ETH.
The competition to accumulate ETH is believed to put upward pressure on Ethereum prices. The ETH behind assets like Bitcoin and Solana has grown 110% to $3,800 over the past three months. Most of the competitors had to settle for double-digit profits in the same period.
Crypto Security Analyst Wilson Ye said in a post on social media platform X:
“What we’re looking at is institutional-scale FOMOs (fears of missed out). Large players are competing to gain dominant positions ahead of ETF approval. This competition examines the paper that ETH has become an institutional infrastructure.”
Sharplink says it will take a careful approach to leverage it. The company currently has no liabilities, but is reportedly valued new financing options, such as issuing convertible bonds. This was a strategic micro-tactic that is frequently used in Bitcoin Holding.
Joe Lubin added the following to this theme:
“No matter what we do, we carefully manage our risk levels. We will always keep control of leverage.”
Lubin said this careful approach will bring significant benefits to shareholders in the long run.
Sharplink’s aggressive but controlled Ethereum strategy integrates ETH’s position in the corporate world and marks the start of a new accumulation race in the market.
*This is not investment advice.
