A prominent Bitcoin holder, described as a Bitcoin OG with a portfolio of 14,837 BTC valued at approximately $1
A prominent Bitcoin holder, described as a Bitcoin OG with a portfolio of 14,837 BTC valued at approximately $1.69 billion, has recently sold around 1,070 BTC worth $121 million on the Hyperliquid platform. This activity includes an initial sale of about 660 BTC ($76 million) followed by an additional 400 BTC sale. Concurrently, the investor has taken substantial long positions in Ethereum (ETH), acquiring roughly 69,983 ETH valued at $301 million at price levels between $4,300 and $4,333. These long positions are distributed across four different wallets and involve leverage of 10x and 3x. The investor appears to be reallocating holdings from Bitcoin to Ethereum, having purchased 14,520 ETH in spot and leveraged positions totaling $295 million. The initial Bitcoin holdings were acquired around May-June 2018 at an average price of $7,242 per BTC. This strategic shift indicates a significant move from BTC to ETH by a major market participant.
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Source: https://thedefiant.io/news/markets/bitcoin-whale-holding-14837-btc-sells-121m-btc-opens-301m-eth-longs-across-4-10x-7e7e79e1
