Co-founder of Ethereum and chairman of SharpLink Joseph Lubin says that accumulating ETH in treasuries could potentially be more valuable than companies doing the same thing with Bitcoin (BTC).
In a new interview with Bloomberg, the chairman of the ETH Treasury firm says that SharpLink is mimicking some of the accumulation practices of Michael Saylor’s Strategy.
[adinserter block="1"]“Well, Michael Saylor’s done a brilliant job with his particular implementation of the strategy. Being able to do some of the same things – and many other things – using Ether is actually much more powerful, because Ether is a productive and yielding asset.
So, we’ve been accumulating capital in various ways every single day. We’ve been instantly turning it into Ether and instantly staking it – or restaking it while taking advantage of decentralized finance yielding capabilities. This allows us to take our Ether and grow it directly.
We believe we’ll be able to accumulate more Ether per fully diluted share much faster than any other Ethereum-based project—or certainly faster than the Bitcoin-based projects.”
Beyond that, Lubin says that SharpLink is continuing to accumulate ETH almost daily with the available capital it produces.
“Well, we’re doing our best to accumulate capital every single day through ATM facilities, as well as using other mechanisms for earning yield every day on our existing Ether. And nearly every day, we’re buying more Ether and staking it immediately.”
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