$11B Bitcoin whale surpasses SharpLink with $4B Ethereum bet

A mysterious mega-whale is rotating billions from Bitcoin into Ether, signaling a broader shift as corporate and institutional investors boost ETH holdings.

A Bitcoin whale has been accumulating billions of dollars’ worth of Ether, surpassing the second-largest corporate treasury firm, signaling a growing rotation among large investors seeking cryptocurrencies with more upside potential.

A Bitcoin whale worth over $11 billion sold another $215 million worth of Bitcoin to buy $216 million worth of spot Ether on the decentralized exchange Hyperliquid.

Following the latest buy, the whale now holds 886,371 Ether worth more than $4 billion, Lookonchain reported on Monday in an X post.

Last Monday, the whale closed $450 million worth of his perpetual long position at an average Ether price of $4,735, to lock in $33 million worth of profit, before acquiring another $108 million worth of spot Ether.

$11 billion Bitcoin whale surpasses SharpLink’s $3.5 billion Ether holdings

Some cryptocurrency whales are starting to eclipse the holdings of corporate cryptocurrency treasury firms.

With the latest investment, the mysterious whale’s $4 billion Ether holdings are now worth more than the portfolio of SharpLink Gaming, the world’s second-largest corporate Ether holder, which currently holds over 797,000 ETH worth $3.5 billion.