Bitcoin Whale’s $100M Ethereum Gamble: How the Crypto Kingpin Cashed In
A single crypto whale just turned Ethereum into a nine-figure payday—proving once again that in digital assets, the biggest risks often deliver the biggest rewards.
The Setup: High-Stakes Bet on ETH
While retail traders debated whether to ape in, one Bitcoin heavyweight quietly shifted massive capital into Ethereum. No hesitation, no public announcement—just a cold, calculated move into the second-largest cryptocurrency.
The Payoff: $100 Million and Counting
The bet exploded in value as Ethereum's ecosystem matured and institutional interest surged. Smart contracts, DeFi expansion, and NFT mania all played their part—pushing the whale’s position into legendary profit territory.
Timing, Scale, and Absolute Conviction
This wasn’t some meme-fueled YOLO trade. It was a strategic accumulation executed with precision timing and deep-market insight. The kind of move that separates crypto titans from the average bag-holder.
Welcome to Crypto: Where Whales Still Eat First
While financial advisors were still debating 'blockchain, not Bitcoin,' this player was already stacking Ethereum—and just cashed out a generational fortune. Sometimes the best investment strategy is ignoring conventional wisdom entirely.
The Bitcoin Whale’s Ethereum Position is Worth Over $850 Million
The whale, which received over 100,000 BTC nearly seven years ago, executed its first major ethereum buys, which included a $270 million purchase of 62,914 ETH and a much larger $580 million derivatives long position worth 135,265 ETH.
These transactions signaled an intentional reallocation of holdings from a significant Bitcin holder of that scale.
A Bitcoin OG who received 100,784 $BTC($642M) 7 years ago ended his dormancy recently— selling $BTC while buying 62,914 $ETH ($267M) spot and opening a massive 135,265 $ETH($577M) long position.
We just spotted another Bitcoin OG depositing $BTC into #Hyperliquid to sell and buy… pic.twitter.com/qhebN276Lf
On August 23, the whale also sent 300 BTC in two separate transactions to the derivatives platform Hyperliquid, suggesting a deliberate plan to expand their Ethereum exposure rather than a one-off allocation.
At current market prices, these trades have already paid off.
Lookonchain estimates the derivatives position is up around $58 million, while the spot purchase has added roughly $42 million in paper gains. Combined, the wallet now sits on more than $100 million in profit from this pivot alone.
Beyond the profits, the whale’s shift points to a broader market trend showing that Ethereum is steadily pulling more liquidity and market interest.
A CEXIO report shows Ethereum’s share of spot trading on major centralized platforms climbed above 32% in August, its highest level since 2017.
According to the firm, that shift has been partly driven by retail investors, who increased participation in sub-$3,000 order sizes, and institutions following with larger trades.
Apart from that, CEX.io pointed out that capital net position data shows that Ethereum rose 23% in August, while bitcoin dropped by 43%. That dynamic highlights how capital rotation has tilted toward ETH, reflecting shifting confidence among traders.
So, it is unsurprising that Ethereum rose to a new all-time high after risk appetite improved across the crypto market following Federal Reserve Chair Jerome Powell’s Jackson Hole remarks.
