A Bitcoin OG is Swapping BTC for ETH, Acquiring 19,794 ETH in the Past 6 Hours

According to a report by Jinse Finance, on-chain analytics platform Lookonchain has observed that early Bitcoin investors (OGs) are shifting from leveraged long positions in Bitcoin to spot purchases of Ethereum. This investor, who holds $1.69 billion worth of Bitcoin, recently sold $76 million in Bitcoin and opened a $295 million long position in Ethereum. Subsequently, within the past six hours, they deposited $114 million in Bitcoin to purchase $85 million worth of spot Ethereum (approximately 19,794 ETH).