Thiel take 7.5% stake for ETHZilla dem Ethereum Treasury
Peter Thiel Founders Fund don take 7.5% passive share for 180 Life Sciences Corp wey dem go soon rename ETHZilla, after SEC filing show say dem get about 11.6 million shares. The announcement make ETHZilla stock increase 207% within hours.
ETHZilla now get 82,186 ETH for average cost of $3,806.71 (around $349 million) plus $238 million cash equivalents. The company wan generate on-chain yield through staking plus external asset management as part of their Ethereum treasury plan.
This move come after Founders Fund put 9.1% investment for BitMine and e show say institutional demand for corporate Ethereum treasury solution dey increase. Traders dey see these strategies as good sign wey fit lock ETH supply and make yield better.
Bullish
Dis high-profile accumulation dey show say ETH get correct bullish outlook. For short term, di surge for ETHZilla stock mean say market dey excited well-well, but traders fit see say volatility go increase when more filings or stock movements show. For long term, ETHZilla reserve wey be 82,186 ETH plus di staking wey dem plan go lock supply, go reduce circulating ETH and fit make price go up. Plus, if institutions join body for ETH treasuries, e fit boost confidence and attract more money, wey go strong Ethereum price movement.