Bitcoin Whale Shifts Focus to Ethereum with $334M Investment

A prominent Bitcoin investor has significantly increased their investment in Ethereum, signaling a shift in market sentiment and fueling discussions about the cryptocurrency’s future. According to blockchain analytics platform Lookonchain, this long-standing Bitcoin holder recently created a new wallet and deposited $20 million in USDC to acquire a leveraged position in Ethereum. The whale now controls over 78,265 ETH, valued at approximately $334 million, spread across five wallets. This move follows the investor’s earlier sale of 670.1 BTC for $76 million and reinvestment into Ethereum positions.