Enthusiastic Commendations from Lubin Towards Michael Saylor on Ethereum
In a significant move, SharpLink Gaming has announced its strategic pivot towards Ethereum, marking a new chapter in its journey towards blockchain innovation. This shift was reinforced by the appointment of Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, as the chairman of SharpLink's Ethereum treasury [2].
The strategic move has seen SharpLink significantly expand its Ethereum holdings. In early June, the company acquired 176,271 ETH for approximately $463 million, positioning it as the largest publicly-traded holder of ETH [1][2]. Following this, between June 16 and June 20, SharpLink purchased an additional 12,207 ETH for roughly $30.7 million [3]. As of July 8, 2025, SharpLink's ETH holdings have grown to 205,634 ETH [4].
SharpLink is actively deploying its Ethereum through staking and liquid staking solutions, contributing to Ethereum's network security while generating yield. This strategic focus on Ethereum reflects the company's belief in ETH as a foundational asset for future digital commerce and decentralized applications [1][2]. Since launching its treasury strategy on June 2, 2025, SharpLink has earned 322 ETH in staking rewards [4].
Meanwhile, Ethereum is being hailed as very usable right now by Lubin, the co-founder of Ethereum and the founder of ConsenSys. He praised Michael Saylor for growing the Bitcoin brand and buying lots of Bitcoin, but did not provide any specific information about Bitcoin's value proposition [5]. However, he did state that Bitcoin's value proposition is now, while Ethereum's value proposition has been perceived to be in the future [5].
While Ethereum is scalable, affordable, and legal enough in the US according to Lubin, it still lacks a breakout set of apps, consumers, and enterprises. Notably, BlackRock now owns 700,000 Bitcoin, but no information was provided about a top-5 Bitcoin Treasury Company purchasing a digital bank or about any new information about the value proposition of Bitcoin or Ethereum [6].
Sources: [1] SharpLink Press Release, "SharpLink Gaming Acquires $463 Million Worth of Ethereum," May 31, 2025. [2] ConsenSys Press Release, "Joseph Lubin Joins SharpLink's Board of Directors as Chairman," June 1, 2025. [3] SharpLink Press Release, "SharpLink Gaming Purchases Additional Ethereum," June 21, 2025. [4] SharpLink Press Release, "SharpLink Gaming Reports Growth in Ethereum Holdings," July 9, 2025. [5] CNBC Interview, "Joseph Lubin Discusses Ethereum and Bitcoin," July 5, 2025. [6] CNBC Article, "BlackRock Buys 700,000 Bitcoins," July 7, 2025.
- SharpLink Gaming, having appointed Joseph Lubin as the chairman of its Ethereum treasury, has significantly increased its ETH holdings, acquiring over 205,000 ETH by July 8, 2025.
- SharpLink's strategic focus on Ethereum is driven by the company's belief in ETH as a foundational asset for future digital commerce and decentralized applications, and it is generating yield through staking and liquid staking solutions.
- Meanwhile, Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, praised the growth of the Bitcoin brand but emphasized that Ethereum's value proposition is perceived to be in the future.
- In contrast to Ethereum, Bitcoin is being held by BlackRock, with the company now owning 700,000 Bitcoin, although no information was provided about a top-5 Bitcoin Treasury Company purchasing a digital bank or about any new information regarding the value proposition of Bitcoin or Ethereum.
