Key Points After hitting a 52-week high of $543 in November 2024, Strategy is now trading for just $335. The recent pullback in Strategy's price highlights the potential perils of investing in Bitcoin treasury companies. If investors are no longer willing to attach a premium to Strategy's Bitcoin holdings, then Bitcoin is obviously the better play. 10 stocks we like better than Bitcoin › It's hard to argue with the long-term performance of Strategy (NASDAQ: MSTR). Since this high-profile Bitcoin ...

Core Insights - Small companies are adopting Ether as part of their balance sheets to enhance stock market valuations, with notable success [1] - SharpLink Gaming has seen a 150% increase in shares over the past 30 days, indicating strong market interest in this strategy [2] - SharpLink Gaming has become the largest corporate holder of Ether, with 280,706 coins valued at approximately $960 million, surpassing the Ethereum Foundation [3] - The company raised over $400 million for Ether purchases and has more than $250 million available for future acquisitions [4] - The Ethereum treasury company model mirrors the Bitcoin treasury model pioneered by MicroStrategy, focusing on capital market funding for crypto purchases [5] - Ethereum's price has increased by 7% in 2025, while Bitcoin has risen by 30%, raising questions about Ethereum's future performance [6] - A few publicly traded companies, including Bitmine Immersion Technologies and Bit Digital, have also adopted this treasury model [7] - The lower price of Ether at $3,600 makes it easier for small-cap companies to raise funds compared to Bitcoin's price of around $120,000 [9] Company Strategies - SharpLink Gaming's pivot to investing in Ethereum has revitalized its stock price after a period of stagnation [10] - Bitmine Immersion Technologies has a notable figure, Tom Lee, as its chairman, which may enhance its ability to attract investors [11] - Concerns exist regarding the rationale behind Bitcoin mining companies like Bitmine and Bit Digital investing in Ether, questioning their commitment to the Ethereum model [12]