In the vast and often absurd world of digital currencies, a peculiar story has emerged that would make even the most seasoned observers scratch their heads in disbelief. According to the ever-watchful eyes of Lookonchain, a 7-year-old Bitcoin whale-yes, you read that right, a seven-year-old-has decided to part ways with a hefty sum of Bitcoin to embrace the Ethereum revolution. This decision comes at a time when the crypto market is experiencing a notable downturn, with both ETH and BTC taking significant hits.
In a recent X post, Lookonchain unveiled the tale of a Bitcoin OG, who, with a portfolio holding 14,837 BTC (worth about $1.69 billion), has made a bold move. This young, yet astoundingly wealthy, investor sold 670.1 BTC (a cool $76 million) and promptly turned to Ethereum, opening long positions worth 68,130 ETH (approximately $295 million). The transaction involved a series of intricate maneuvers, including depositing the BTC to Hyperliquid, selling it off, and then strategically buying ETH across four different wallets.
Seven years ago, this Bitcoin whale received 14,837 BTC, which was then valued at a mere $107.5 million, from exchanges like HTX and Binance, when Bitcoin was trading at a modest $7,242. The recent shift in investment strategy suggests that the young tycoon might be betting on a significant surge in Ethereum’s value, perhaps seeing it as the next big wave in the crypto ocean.
However, the story doesn’t end there. In another X post, Lookonchain noted that the Bitcoin whale, ever cautious, began to close some of its long positions on Ethereum and opted for a more direct approach by buying spot ETH. In the process, the whale deposited an additional 1,000 BTC (worth $113.95 million) to Hyperliquid, using the funds to acquire 19,794 ETH (valued at $85 million).
Not content with a single strategy, the Bitcoin OG then ventured into leveraged trading, creating a new wallet and depositing $20 million in USDC to go long on ETH with 6x leverage. This maneuver brought the whale’s total Ethereum holdings to 78,265 ETH (worth about $334 million) spread across five wallets.
The Bitcoin investor’s faith in Ethereum has only grown stronger. Over the past two days, the whale has sold 3,142 BTC (worth $356.47 million) and used the proceeds to buy 55,039 ETH (worth $237 million) through spot trading. Additionally, the whale opened a long position of 135,265 ETH (worth $577 million). Hyperliquid data reveals that three out of the five long positions are already in profit, with the largest unrealized gain exceeding $2 million.
Lookonchain also spotted another Bitcoin OG who followed a similar path, depositing BTC into Hyperliquid to sell and buy ETH. On-chain data indicates that this whale received 85,947 BTC (worth $547 million) seven years ago, leading the analytics platform to speculate that it might be the same individual. Meanwhile, another whale created a new wallet and withdrew 11,950 ETH (worth $51.32 million) from Binance.
As of this writing, Ethereum is trading at around $4,280, down slightly over the past 24 hours, according to CoinMarketCap. Whether this 7-year-old crypto prodigy’s gamble on Ethereum will pay off remains to be seen, but one thing is certain: the world of cryptocurrencies continues to be a playground for the daring and the unconventional.
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2025-08-22 13:56