The Chairman of SharpLink and Ethereum Co-founder Joe Lubin weighed in on a growing comparison between him and Bitcoin evangelist Michael Saylor. In a recent Bankless podcast episode, the question of whether Lubin could fill a similar role for Ethereum as Saylor has for Bitcoin was raised.
Lubin sidestepped the label, emphasizing that his aim is to remain the “Joe Lubin of Ethereum” rather than adopting Saylor’s full persona.
In the interview, Lubin detailed his vision for SharpLink Gaming (ticker SBET), describing it as a two‑pronged vehicle. It will invest around $425 million into Ether, using staking and DeFi yield alongside traditional capital‑raising tools such as “at‑the‑market” share offers and convertible debt instruments.
He pointed out that Saylor’s success with MicroStrategy stems from issuing shares and debt to buy Bitcoin, creating a Bitcoin‑per‑share metric. SharpLink plans to introduce something similar by staking Ether and publishing an “ETH‑per‑share” figure, using financial structuring to manage risk and incentivise investors.
SharpLink already holds over 280,000 ETH, worth more than $1 billion, and is competing with rival Bitmine Immersion Technologies, chaired by Tom Lee, in a “treasury arms race” in the Ethereum space. Lubin struck a tone of both rivalry and cooperation, saying “we will both compete, hard” but can also “hold hands and collaboratively explain the paradigm shift to decentralisation”.
Despite nodding to Saylor’s influence, Lubin resisted the comparison. He clarified his preference for maintaining his own identity in the crypto narrative.
As the interview wrapped up, Lubin stressed that the strategy was still unfolding. He acknowledged the stakes of the balance‑sheet game but expressed confidence in ETH’s long‑term role as a programmable asset, unlike Bitcoin’s “store of value” narrative.
Also Read: Ethereum Wave: SharpLink Aims to Raise $5B for ETH Investment
