KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
SharpLink Gaming ($SBET.US) just made waves in the crypto space — again. In the last 4 hours, it added 20,279 ETHto its holdings, valued at approximately $68.38 million, according to on-chain data via Arkham. Purchases were made through Coinbase Prime and Galaxy Digital.
What’s the Big Deal?
🔹 Total ETH holding: 321,000 ETH
🔹 Average purchase price: ~$2,745
🔹 Current ETH price: ~$3,400
🔹 Unrealized gain: ~$200 million
SBET has quietly deployed a micro-strategy style ETH accumulation plan since June — and it’s paying off in a big way.
Why ETH?
Ethereum’s recent strength is no coincidence:
Anticipation of ETH ETF approvals
Renewed developer activity post-Dencun upgrade
Surging institutional interest in on-chain assets
SBET appears to be riding that wave — and positioning itself as one of the boldest corporate holders of Ethereum in the US.
MoneyMaster Take:
This is more than just a speculative play. SBET’s ETH bet suggests a long-term conviction in Ethereum’s role in the future of finance and gaming. With 321K ETH now in treasury, it could rival early-stage MicroStrategy’s BTC moves in scale and timing.
What to Watch:
Will other small/mid-cap firms follow SBET’s lead?
Can ETH maintain its rally beyond $3,400 — or even break $4,000?
Will regulatory clarity speed up institutional ETH accumulation?
Bottom Line:
SBET just made a $68M power move in 4 hours — and it might be just the beginning. When crypto meets corporate treasury strategy, the upside can be massive. This story is far from over.
Comments
Post a Comment