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Recently, a gaming company has shown strong confidence in Ethereum (ETH). According to reliable sources, the company has increased its holdings by 24,371 ETH through the Coinbase Prime platform in the past 5 hours, with a total value of approximately $73.21 million. This is not the company's first large-scale purchase. In fact, since early June this year, this gaming company has been following a strategy similar to that of the well-known publicly traded company MicroStrategy, continuously accumulating ETH as a reserve asset.
As of now, the company has cumulatively purchased approximately 294,000 ETH. It is worth noting that the company's average purchase price is around $2,695 per piece. Considering Ethereum's current market price, this means the company has already gained about $91.83 million in paper profit on this investment.
This large-scale and ongoing purchase activity of Ethereum has attracted widespread attention in the market. Analysts point out that this may reflect some institutional investors' optimism about the long-term value of Ethereum, while it may also have a certain impact on the market price of ETH. However, investors should also be aware of the high volatility of the cryptocurrency market and the associated investment risks.
As more and more companies incorporate cryptocurrencies into their asset allocation strategies, we may be witnessing the emergence of a new business trend. However, whether this strategy can be sustained in the long term and its impact on the financial condition of companies remains to be further observed and analyzed.