Veteran Bitcoin Seller Unloads Over $400 Million Worth of Bitcoin, Buys Ethereum Instead; Analyst Anticipates $10,000 for Ethereum Value

In a notable move, the Bitcoin OG, who previously held over $5 billion in Bitcoin, sold 4,000 BTCs on Sunday, August 31, 2025, and purchased 96,859 Ether, worth over $433 million. This transaction comes after the Bitcoin OG sold 1,000 BTCs the previous day and bought more Ethereum coins through the Hyperliquid platform.

The Bitcoin OG deposited 3,000 Bitcoins to an exchange before making the Ether purchase, suggesting a strategic approach to this significant shift in digital assets. This move by the Bitcoin OG could be seen as a vote of confidence in the growing potential of Ethereum.

Meanwhile, the Ethereum market has been showing signs of strength. The ETH/USD pair is about to record the highest close since December 2021, reflecting a positive trend. The ETH price has rebounded 3% from an intraday low of about $4,340 to reach a range high of about $4,491.

The demand for Ethereum by institutional investors has significantly increased in the recent past, as shown by the decline in Ether's crypto exchanges reserves. Notably, Grayscale Investments, an institutional investor, purchased Ether worth approximately $968 million over the past weeks. BlackRock's ETHA has led the wider U.S. spot Ethereum ETF issuers in purchasing more ETH in August, contributing to a net cash inflow of about $3.87 billion.

Eleven publicly traded companies, mostly from the United States, have accumulated 3,041,192 ETH for their treasury management. Among these companies, BitMine and SharpLink have the largest Ethereum holdings, with 1,713,899 and 797,704 respectively.

The U.S. spot ETH ETFs have now recorded a cumulative cash inflow of over $11 billion since April to the end of August 2025. Despite dropping around 7% during the past week, ETH has rallied over 24% in August, reaching an all-time high of about $4,946 on August 24, 2025.

Contrastingly, the demand for Bitcoin by institutional investors has significantly declined in the past few weeks. This shift in preference towards Ethereum could be a sign of growing interest in the Ethereum network's potential for future growth.

As the market continues to evolve, it will be interesting to see how these trends unfold and whether the Bitcoin OG's move will influence other large-scale investors in the digital asset space.

Veteran Bitcoin Seller Unloads Over $400 Million Worth of Bitcoin, Buys Ethereum Instead; Analyst Anticipates $10,000 for Ethereum Value