This Bitcoin OG Dumps BTC for Ethereum After 7 Years of Silence

A Bitcoin wallet from several years ago showed activity just today, selling at a substantial profit and shifting strategies towards the second-largest crypto asset by market capitalization.

Ethereum, the asset of choice, has meanwhile been garnering considerable attention from institutions and retail investors alike.

Change of Heart

A dormant BTC whale has resurfaced today, as reported by the Lookonchain market watcher page. The team traced the original purchase from seven years ago, when the wallet received 100,784 BTC (~$642M), which was sold for Ethereum (ETH) today.

At the start of 2018, the leading cryptocurrency was trading at roughly one-tenth of its current price (approximately $113,000 now, compared to around $13,000). If we assume that they bought in at that price, this has netted them a tremendous 1,613% return on the investment.

The trader purchased 62,914 ETH (~$267 million) from the spot market using their substantial earnings and opened a long position of 135,265 Ether, worth approximately $577M.

The blockchain trackers noted another holder from 2018 who sold their Bitcoin on Hyperliquid to buy ETH. The data shows that the wallet originally received 85,947 bitcoins at that time, worth approximately $547 million, and they believe it’s the same entity.

A total of 6 BTC-containing wallets were identified, which hold the impressive 83,585 units, valued at around $9.42 billion, considering the prices at the time of printing.

ETH in The Spotlight

The top altcoin has been receiving significant attention in 2025, currently up over 60% from the same time last year and trading at around $4,300. This is a modest 8.5% decrease from the recent local peak of over $4,700 it achieved last week, according to data from CoinMarketCap.

Institutions are pouring capital into the recently emerged trend of ETH treasury companies, along with exchange-traded funds (ETFs). Notably, Tom Lee’s BitMine leads treasuries, while BlackRock’s iShares Ethereum Trust ETF has the lion’s share among the funds.

The entities hold 1.5 million ETH and 3.54 million ETH, respectively, in their coffers, and current data from StrategicEthReserve indicates that over $44 billion in Ether is split between treasuries and ETFs, representing almost 9% of the total supply.