🚨Bitcoin Billionaire Sells and Bets on Leveraged Ethereum🚨
✅️Incredible numbers for an old BTC whale, who has now changed their mind.
✅️Initial positions worth hundreds of millions of dollars, with the proceeds coming from the sale of long-held Bitcoin. An old whale (the term used for large holders of Bitcoin) moving from Bitcoin to Ethereum… with leverage.
✅️A choice that so far has not paid off (they are down on all positions), but many are reading it with a – at least temporary – broader perspective.
✅️First, there was the sale of 670 Bitcoin, then an additional 1,000 Bitcoin deposited on the platform, to acquire an overall leveraged position on Ethereum worth about 295 million dollars in nominal value.
✅️Later, they deposited 20 million dollars in USDC opening other positions. These last positions are 6x leveraged and are currently losing over 1 million dollars net of fees.
✅️The sale comes from a wallet that had been inactive for at least 7 years and that in total holds more than 14,000 Bitcoin.
✅️It is not clear for the moment whether the choice is solely to engage in trading, or partly for entertainment with the enormous amount of money that their huge BTC holdings have transformed into.
✅️A sign of the arrival of altseason?
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