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.
I am not sure how the discussion of an Ethereum strategic reserve strategy contributes to the conversation, unless we want to be critical of it, and to suggest that there are companies that are distracted into a shitcoin while thinking that it is similar to bitcoin or even presuming them to be kinds of in the same class or complementary to each other and other nonsensical thoughts about supposed value of Ethereum when it is not really adding any value in regards to the various sound money attributions that bitcoin has.