180 Life Sciences Corp (NASDAQ: ATNF) saw its stock surge 5.89% in after-hours trading on Wednesday, continuing its impressive rally as the company undergoes a dramatic transformation from a biotech firm to an Ethereum-focused investment vehicle. This pivot, reminiscent of MicroStrategy's Bitcoin strategy, has captured investor attention and driven significant gains.

The company, soon to be rebranded as ETHZilla, has made several strategic moves that have fueled its recent success: 1. A substantial purchase of approximately $350 million worth of Ethereum, signaling a major commitment to cryptocurrency investments. 2. The acquisition of a 7.5% stake by billionaire Peter Thiel and his investment team, as revealed in a recent SEC filing. 3. Completion of a $156 million private offering to further boost its Ethereum reserves. 4. Plans to increase its Ethereum holdings per share over time through strategic deployment of its assets.

This transformation has resonated strongly with investors, leading to a remarkable 432% gain for the week. The involvement of high-profile tech investor Peter Thiel lends significant credibility to the company's new direction. As the crypto market continues to evolve and institutional interest in digital assets grows, ATNF's metamorphosis into ETHZilla positions it uniquely in the public markets, potentially capturing value from Ethereum's future growth and adoption.