Bitcoin Investor Shifts Strategy to Ethereum Purchases

According to TechFlow, on August 21, data from on-chain analysis platform Lookonchain revealed that a major early Bitcoin investor is changing their investment strategy. The investor, currently holding around $1.69 billion in Bitcoin, has shifted focus from leveraged long positions to spot acquisitions of Ethereum (ETH).

The transition began with the sale of $76 million worth of Bitcoin, which was followed by the establishment of a $295 million Ethereum long position. More recently, within the last six hours, the investor deposited $114 million in Bitcoin to purchase $85 million in spot Ethereum, equivalent to approximately 19,794 ETH.

This strategic pivot suggests growing confidence in Ethereum’s potential, marking a noteworthy move from a long-term Bitcoin holder toward a more diversified position in the broader crypto market.

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