Shares of SBET surged to $30 in after-hours trading on July 15, 2025, following a strong rally throughout the day. Market participants noted that SBET is currently printing $400 million weekly at nearly three times its net asset value (NAV), with expectations that the company could reach a $20 billion valuation by the end of the year. Analysts compared buying SBET at $9.16 four weeks ago to purchasing MSTR in the second quarter of 2020, highlighting significant growth potential. There is active options market activity, including notable selling of October $28 puts despite the price increase. SBET’s performance is being discussed alongside BMNR, with both companies seen as having strong prospects, although SBET is currently more expensive but may justify its valuation over time. Investors are advised to monitor the market NAVs and adjust risk exposure accordingly, especially in relation to treasury securities. The momentum in SBET shares is viewed as an important development for the second half of 2025.