I don't exactly know what an Ethereum Strategic reserve is, but today Sharplink NASDAQ: SBET announced some
clarification over their ETH trasury plans.
Stock down 70%.
I guess this is a warning for every corporation willing to pump their share price by announcing silly Bitcoin Strategy Plans, without a clear rationale, implementation, and procedures, like Staregy has been building over the years.
They said it's a misunderstanding that got mixed up as insider trading. Looks like a big mess right now, but even then, they are up 100% compared to the $5 valuation before they started this Ethereum strategy. There is another company that has been stacking ETH for a longer time, BTBT, but these guys have a real AI business too. They say ETH stacking will be used as cashflows. I think BTBT is a legit company, but with this strategy playbook, a lot will try to do insider trading by buying call options and then announcing the strategy which would make them rich if they can get away with it.