An old Bitcoin (BTC) investor sold part of their holdings and strongly bet on the potential of Ethereum (ETH).

This movement comes as Ethereum continues to attract substantial interest from investors and outperforms Bitcoin amid what market analysts are calling the Ethereum season.

In a recent post on X (formerly Twitter), Lookonchain, a blockchain analysis company, highlighted that the investor acquired 14,837 BTC seven years ago from HTX and Binance at an average price of US$ 7.242. The amount, then valued at 107.5 million dollars, is now worth over 1.6 billion dollars.

The old investor deposited 670.1 BTC, valued at 76 million dollars, from their stack on Hyperliquid, a decentralized perpetual trading platform, and subsequently sold them. After the sale, the investor opened long positions totaling 68,130 ETH (approximately US$ 295 million) in four wallets. The investor used leverage of up to 10x in most trades.#BNBATH900