It is a truth universally acknowledged, that a single man in possession of a good fortune must be in want of a change, particularly when said fortune is in Bitcoin (BTC). Such was the case with one distinguished crypto investor, who, after a slumber of seven years, found himself quite ready to part with a considerable sum of the digital currency to indulge in the delights of Ethereum (ETH).
A recent thread on the social platform X, courtesy of the ever-watchful eyes of Lookonchain, has revealed that this crypto whale, with a touch of whimsy, sold a staggering $337 million worth of BTC and proceeded to feast upon $215 million worth of ETH, all while opening a most impressive $577 million worth of ETH long positions. 🦀💰
“This Bitcoin OG is going crazy long on ETH and buying ETH spot. Over the past two days, he sold 2,970 BTC, opened ETH longs totaling 135,265 ETH, and bought 50,472 ETH in spot.”
Lookonchain further regales us with tales of another address, perhaps the very same high-net-worth individual, who, based on the elegance of their trading patterns, seems intent on adding more to their already generous collection of the top altcoin.
“A Bitcoin OG who received 100,784 BTC ($642 million) seven years ago ended his dormancy recently – selling BTC while buying 62,914 ETH ($267 million) spot and opening a massive 135,265 ETH ($577 million) long position.”
We just spotted another Bitcoin OG depositing BTC into [decentralized exchange] Hyperliquid to sell and buy ETH. On-chain tracking shows this OG received 85,947 BTC ($547 million) seven years ago – matching the trading pattern of the OG we reported recently. Likely the same whale. We’ve identified six of their wallets still holding a massive 83,585 BTC ($9.42 billion).”
The crypto analytics firm, with a flourish of the pen, concludes by noting that the whale in the first trade is basking in the glow of significant unrealized gains, thanks to the recent ascent of ETH to heights above $4,600. 🚀🎉
“ETH just broke above $4,600! The Bitcoin OG holding a 135,265 ETH ($577 million) long now sits on an unrealized profit of over $40 million.”
Ethereum, at the time of this writing, trades at the princely sum of $4,787, marking a 12% gain on the day, while BTC stands valiantly at $116,762. May the market continue to smile upon these crypto aristocrats! 😇✨
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2025-08-23 22:23