24-8-2025 – A prominent early Bitcoin holder executed a massive cryptocurrency reallocation, transferring 6,000 Bitcoin worth approximately $689.5 million to purchase Ethereum tokens, according to blockchain analytics firm Lookonchain.
The whale’s transaction represents one of the largest single Bitcoin-to-Ethereum conversions recorded this year. The address now holds 278,490 Ethereum tokens valued at roughly $1.28 billion, purchased at an average price of $4,585 per ETH. The investor also maintains a substantial long position of 135,265 Ethereum worth approximately $581 million, indicating strong conviction in the second-largest cryptocurrency.
The timing of this portfolio rotation comes as Ethereum trades around current levels while Bitcoin faces technical pressure near key support zones. Early Bitcoin adopters typically accumulated their positions at significantly lower prices, allowing them flexibility to diversify into other digital assets without realizing losses. Such large-scale movements often signal institutional-level strategic positioning rather than short-term trading.
