Bitcoin OG Deposits $108M BTC to Buy More ETH
Bitcoin OG moves $108M BTC to Hyperliquid, likely to buy more ETH.
- Bitcoin OG deposits 1,000 BTC worth $108M to Hyperliquid
- Likely strategy: sell BTC to accumulate more ETH
- Follows historic $3.85B ETH purchase
In a fresh move that’s catching crypto watchers’ eyes, a well-known Bitcoin OG has just deposited 1,000 BTC — worth around $108.08 million — into Hyperliquid. This comes after the same wallet was identified as the buyer of a staggering 837,429 ETH (valued at $3.85 billion). The strategy is clear: sell BTC to accumulate more ETH.
Is the Bitcoin OG Turning Bullish on ETH?
The crypto whale’s latest action suggests a strong conviction in Ethereum’s future. By shifting large amounts of BTC into Hyperliquid — a derivatives and spot trading platform — the OG is setting up for a major BTC sell-off. The likely goal? Buying ETH at spot prices.
This kind of large-scale rotation from Bitcoin to Ethereum isn’t common. It indicates that some of crypto’s early adopters may see more upside in ETH than in BTC, possibly due to Ethereum’s role in DeFi, NFTs, and future scalability upgrades.
Market Eyes on Ethereum Accumulation
Given this address’s previous $3.85B ETH purchase, the crypto community is watching closely. If another major ETH buy is underway, it could have ripple effects on both Bitcoin and Ethereum’s short-term price action.
Such whale moves often signal shifts in sentiment. Traders and investors might see this as a cue to reassess their own BTC vs ETH portfolios.
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