How a Bitcoin Whale’s Ethereum Bet Paid Off With $100 Million
The post How a Bitcoin Whale’s Ethereum Bet Paid Off With $100 Million appeared on BitcoinEthereumNews.com.
A dormant Bitcoin whale has reemerged with a decisive shift toward Ethereum, locking in more than $100 million in unrealized profits as ETH prices surge. On August 22, blockchain tracker Lookonchain flagged the wallet after it began loading up on ETH through both spot purchases and leveraged trades. The Bitcoin Whale’s Ethereum Position is Worth Over $850 Million The whale, which received over 100,000 BTC nearly seven years ago, executed its first major Ethereum buys, which included a $270 million purchase of 62,914 ETH and a much larger $580 million derivatives long position worth 135,265 ETH. These transactions signaled an intentional reallocation of holdings from a significant Bitcin holder of that scale. A Bitcoin OG who received 100,784 $BTC($642M) 7 years ago ended his dormancy recently— selling $BTC while buying 62,914 $ETH ($267M) spot and opening a massive 135,265 $ETH($577M) long position. We just spotted another Bitcoin OG depositing $BTC into #Hyperliquid to sell and buy… pic.twitter.com/qhebN276Lf — Lookonchain (@lookonchain) August 22, 2025 On August 23, the whale also sent 300 BTC in two separate transactions to the derivatives platform Hyperliquid, suggesting a deliberate plan to expand their Ethereum exposure rather than a one-off allocation. At current market prices, these trades have already paid off. Lookonchain estimates the derivatives position is up around $58 million, while the spot purchase has added roughly $42 million in paper gains. Combined, the wallet now sits on more than $100 million in profit from this pivot alone. Beyond the profits, the whale’s shift points to a broader market trend showing that Ethereum is steadily pulling more liquidity and market interest. A CEXIO report shows Ethereum’s share of spot trading on major centralized platforms climbed above 32% in August, its highest level since 2017. Bitcoin vs. Ethereum Spot Volume. Source: CEX.io According to the firm,…
Filed under: News - @ August 23, 2025 12:28 pm