Latest news with #JoeLubin
Yahoo
4 days ago
- Business
- Yahoo
Ethereum Just Got Its Michael Saylor -- And Wall Street Is Paying Attention
Shares of SharpLink (NASDAQ:SBET) have surged nearly 1,000% after announcing plans to become an Ether treasury company, echoing the playbook that turned Strategy (NASDAQ:MSTR) into a crypto market darling. The firm raised $425 million in a private placement to accumulate Ether, with Ethereum co-founder Joe Lubin stepping in as chairman. The deal was led by Consensys, Lubin's software infrastructure company, and has investors asking if this could be the beginning of a broader Ether-driven capital markets trend. Warning! GuruFocus has detected 8 Warning Signs with SBET. Lubin's conviction appears to have been shaped by a conversation with Bitcoin (BTC-USD) bull Michael Saylor six months ago. While Saylor turned Bitcoin into digital gold for balance sheets, Lubin sees untapped potential in Etherespecially as staking introduces a yield component. We'll take in more capital to buy Ether, Lubin noted, citing the possibility of share or bond issuance, but emphasized a cautious approach. Unlike earlier cycles fueled by hype, Lubin insists the focus is long-term ecosystem value, not speculation. With Bitcoin up roughly 11% year-to-date and Ether still down around 26%, some investors are beginning to reconsider the relative value of Ethereum's platform. Lubin believes Ether could play a central role in a more decentralized global economyand he's not alone. Other companies are reportedly exploring similar strategies. If this momentum builds, Ether might not just power decentralized apps but start showing up on more corporate balance sheets, much like Bitcoin did in 2020. This article first appeared on GuruFocus.
Bloomberg
4 days ago
- Business
- Bloomberg
Ethereum Co-Founder Credits Michael Saylor for Crypto Treasury Firm Nudge
Long-time crypto advocate and Ethereum co-founder Joe Lubin says he was swayed into launching a firm to invest in the network's native currency about six-months ago by the best-known advocate of stockpiling digital tokens. 'I was at a dinner with Michael Saylor, I did a little bit of research, I started talking to my colleagues about how cool it could be,' Lubin, the founder and chief executive officer of Ethereum software infrastructure provider Consensys, said in an interview. 'Nobody in our company had done a deep dive on it. We saw, hey we don't see anything overly dangerous in the strategy.'
