SharpLink, one of the leading Ethereum (ETH) treasury companies, has purchased an additional 39,008 ETH tokens, according to a Monday announcement.
The company's total ETH holdings currently stand at approximately $3.6 billion.
This makes it the second-largest ETH holder (behind only Tom Lee's BitMine).
The company is funding its purchases by raising capital from both retail and institutional investors, according to co-CEO Joseph Chalom.
In a recent social media post, Chalom stated that ETH is the "superior treasury asset." "It’s productive, yield-bearing, programmable, and rapidly emerging as the core institutional digital asset," Chalom added.
Tom Lee remains in the lead
Meanwhile, according to data provided by Onchain Lens, BitMine purchased 153,075 tokens last week for roughly $665 million, which brings its total holdings to roughly $8.1 billion.
The company has already accumulated more than 1.5% of the entire ETH supply in virtually no time. As reported by U.Today, BitMine is now targeting as much as 5% of the entire ETH supply.
Lubin's uber-bullish prediction
As reported by U.Today, Joe Lubin, SharpLink's chairman, recently predicted that the price of Ethereum (ETH) could potentially surge 100X from where it is trading right now. The uber-bullish prediction has caused some backlash within the community due to excessive optimism.
The Consensys CEO has also clarified that there is no rivalry between him and Lee.
On top of that, Lubin has predicted that ETH could potentially surpass Bitcoin by market capitalization.
Strong corporate adoption has helped to push the ETH/BTC ratio sharply higher after it recently hit a multi-year low of 0.018 BTC.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team