SharpLink Gaming: SBET Stock To $40?

Are you ready for the next level? SharpLink Gaming stock (NASDAQ:SBET) has already surged 150% this year, and with Ethereum climbing and a hefty $1.5 billion buyback on the table, the real question is whether it can double again and blast past $40. We break down the drivers below that could power such a move. If you want a smarter way to participate without the single-stock swings, check out the High Quality Portfolio. It’s not just beating its benchmark (a mix of the S&P 500, Russell, and S&P midcap indexes)—it’s up a solid 91% since it started. Also, check out – SOFI Stock: More Upside After A 60% Rise?

Traditional Metrics Don’t Apply Here

Let’s unpack why this setup is so unusual. SharpLink isn’t a typical operating story; it’s a direct, leveraged play on Ethereum. Traditional yardsticks like revenue and profit matter less than the company’s ETH stash. In fact, SBET stock was up over 1,000% in a week back in May after announcing its Ethereum pivot, though it later fell to more realistic levels. With over 300,000 ETH on the books and a $1.5 billion stock buyback program, the outcome is tied primarily to crypto.

The Bull Case: 4 Ways SBET Stock Could Double

• Ethereum’s Price: This is the big lever. If Ethereum reaches $6,000–$7,000, it could be a game-changer—levels consistent with prior crypto bull runs. A rising tide lifts all boats, and SharpLink’s boat is loaded with ETH. In fact, why don’t you check out our take on Ethereum: ETH Price To $10,000?
• The Fed’s Moves: Rate cuts from the Federal Reserve make “non-yielding” assets like crypto relatively more attractive, potentially unlocking institutional flows. As a rare path to regulated Ethereum exposure, SharpLink could benefit.
• The Buyback: Repurchasing shares reduces the float, directly increasing the value per remaining share and providing a downside cushion during rough patches.
• Institutional Adoption: If pension funds or insurers want crypto exposure, they can’t simply buy ETH on a questionable exchange. SharpLink could become a go-to vehicle, broadening its investor base.

But What Could Go Wrong?

• The Crypto Crash: If the crypto market—especially Ethereum—drops sharply, the thesis weakens immediately.
• Stock Volatility: This name isn’t for the faint-hearted. It can soar, but it has also been hit hard in downturns, with past declines as steep as 90% from peak. It’s far more of a roller-coaster than the broad market. See Buy or Fear SBET Stock for details.
• Government Crackdown: Surprise policy shifts—new taxes on corporate crypto or tighter rules—could be a major setback.
• Operational Blunders: Running a crypto treasury of this size is delicate. A security lapse or misstep with holdings could be devastating.
• Poor Buyback Timing: Executing repurchases during volatility spikes could waste capital without much benefit to the share price.

The Ultimate Weapon

SharpLink has a powerful edge: a direct connection to Ethereum’s founding team via its chairman, Joseph Lubin. This isn’t just about holding crypto; it’s about proximity to the ecosystem. That relationship could unlock exclusive partnerships or early looks at projects a typical company wouldn’t access.

The Final Takeaway

A double or even more is possible—but it’s a high-stakes wager. Ethereum likely needs to keep climbing, the buyback must be executed well, and institutional participation in crypto has to deepen. This is not for the risk-averse; it’s an all-in bet on crypto’s future, with explosive upside and equally sharp downside.

There’s always real risk when concentration is high—especially in something as volatile as crypto. If you prefer a smoother ride, consider the Trefis High Quality (HQ) Portfolio. With 30 stocks, it has a proven record of beating the S&P 500 over the past four years. The HQ Portfolio offers better returns with less risk than the benchmark, providing a much less wild roller-coaster ride for your investments.