Something very interesting is going on with Ethereum (ETH 3.60%) right now. Small, relatively unknown companies are starting to add Ether, the native coin of the Ethereum blockchain, to their balance sheets as part of a new strategy designed to lift their stock market valuations.
SharpLink Gaming (SBET) has transformed from a struggling marketing company into a high-volatility Ethereum proxy, delivering extreme price swings that reflect cryptocurrency market dynamics.
SharpLink Gaming (NASDAQ:SBET), an online performance marketing company, has seen its stock surge a whopping 1,067% in a week. This move came after the company's recent announcement of a $425 million private placement to adopt Ethereum as its primary treasury reserve asset.