Transition from Bitcoin to Ethereum Accelerated: Another US Giant Company Revealed a $100 Million ETH Plan, Its Stocks Soared!

Recently, institutions have suddenly started to switch from Bitcoin (BTC) to Ethereum (ETH) and are adopting an ETH treasury strategy.

At this point, Sharplink Gaming, Bit Digital like large companies are buying large amounts of Ethereum, while news of another ETH purchase from a giant US company has emerged.

Accordingly, the US-based gaming company GameSquare announced its move of 100 million dollars to launch its Ethereum treasury strategy.

The media company GameSquare, listed on Nasdaq, stated in their official announcement that the board of directors has approved a strategy for an Ethereum treasury of up to 100 million dollars in stages.

The company also stated that it raised 8 million dollars through an IPO to finance its new Ethereum-based treasury strategy.

“The GameSquare Board of Directors has approved the allocation of up to 100 million dollars in Ethereum based on phased investments over time while ensuring sufficient working capital is maintained for operational activities.”

GameSquare CEO Justin Kenna stated, “With this funding, we will strengthen our financial flexibility and reinvest in flexible growth plans and capital allocation strategies by purchasing Ethereum.”

GameSquare Holdings (GAME) saw its stock price on Nasdaq increase by approximately 60% after announcing plans to create a $100 million Ethereum treasure.