A Bitcoin OG whale has offloaded 2,000 BTC, valued at roughly $215 million, to purchase even more Ethereum (ETH), according to on-chain data.
Blockchain tracking firm Lookonchain reports that the whale’s latest buy brings his total ETH holdings to a staggering 886,371 ETH, which is valued at approximately $4.07 billion.
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“This Bitcoin OG has sold another 2,000 BTC ($215 million) and bought 48,942 ETH ($215 million) spot [on Monday]. In total, he has bought 886,371 ETH ($4.07 billion).”
According to Lookonchain, the same whale controlling multiple wallets has been selling massive amounts of BTC to stack Ethereum over the past few weeks.
Late last month, the unknown crypto whale sold off more than $2 billion worth of BTC on the decentralized exchange (DEX) Hyperliquid in order to buy nearly 473,000 ETH as well as take out an ETH long bet.
“The Bitcoin OG who received 100,784 BTC ($642 million then, now $11.4 billion) seven years ago is frantically dumping BTC for ETH… They’ve deposited ~22,769 BTC ($2.59 billion) to Hyperliquid for sale, then bought 472,920 ETH ($2.22 billion) spot and opened a 135,265 ETH ($577 million) long.”
The crypto whale also sold $337 million worth of the top digital asset by market cap and gobbled up $215 million worth of ETH while opening $577 million worth of ETH long positions.
“This Bitcoin OG is going crazy long on ETH and buying ETH spot… He sold 2,970 BTC, opened ETH longs totaling 135,265 ETH, and bought 50,472 ETH in spot.”
Ethereum is trading for $4,382 at time of writing, down 2% on the day.
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