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Bitcoin OG Goes Long on Ethereum With $334M Across Five Wallets

by admin August 21, 2025

A major Bitcoin whale has shifted focus toward Ethereum, sparking new debate in the crypto market. According to Blockchain analytics platform Lookonchain, this longtime holder created a new wallet and deposited $20 million in USDC to take a leveraged Ethereum position.

The OG Bitcoin whale now controls long positions totaling 78,265 ETH, worth around $334 million, spread across five wallets.

This Bitcoin OG just created a new wallet and deposited 20M $USDC to go long on $ETH with 6x leverage.
He now holds $ETH long positions totaling 78,265 $ETH($334M) across 5 wallets.https://t.co/gle55iYVTc https://t.co/0cy5OG65Js pic.twitter.com/TObynZWORL
— Lookonchain (@lookonchain) August 21, 2025

Previously, the whale sold 670.1 BTC, valued at $76 million, and used the proceeds to open 68,130 ETH longs. Lookonchain revealed that this address belongs to a Bitcoin OG who received 14,837 BTC seven years ago from HTX and Binance. Those coins, worth $107.5 million at the time, now stand at nearly $1.7 billion.

Rotating From Bitcoin to Ethereum

Samson Mow, CEO of Jan3, provided a sharp take on the whale’s move. Mow warned, “Most ETH holders have a lot of BTC (ICO/insiders) and they are rotating that BTC into ETH to pump it on new narratives (Ethereum Treasury co’s). Once they’ve gotten it high enough, they’ll dump their ETH, creating new generational bagholders, and then rotate the gains back into BTC. No one wants ETH in the long run. Plan accordingly.”

Hence, the whale’s strategy echoes long-standing cycles of capital rotation between Bitcoin and Ethereum. However, the scale of the current move signals renewed confidence in ETH during a period of institutional attention.

Institutions Show Interest in Ethereum

Aside from whale speculations, the institutional bodies are also entering the Ethereum market. BitMine Immersion Technologies increased its treasury with the addition of 52,475 Ether. The purchase indicates a growing trend for companies to diversify their crypto holdings into cryptocurrencies other than Bitcoin.

Further, according to the CryptoQuant data, the ratio of whale activity to Bitcoin exchange volume is 0.47, confirming that big holders represent only a small part of the exchange volume. This means that with Bitcoin still trading above $112,000, there are other factors supporting the market besides whale activity.

Whale investments in ETH might allow for short-term maneuvers, but at the same time, they are subject to the possibility of market manipulation.

Also Read: Ethereum Treasuries Cross 4.1 Million ETH Across 69 Firms

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August 21, 2025 0 comments

GameFi Guides

PayPal Founder Drops Bombshell On Bitcoin Invention, Is It Above Society’s Understanding?

by admin August 21, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Over the last decade, Bitcoin has been considered one of the greatest inventions. Even though it began as a tech asset, BTC has gained significant mainstream attention, with prominent figures, large corporations, and even countries engaging the crypto king. BTC’s foray into the financial landscape was so monumental that Peter Thiel claims it broke the mold of society’s understanding.

Bitcoin Is Beyond Society’s Ability To Process

Bitcoin has experienced exponential growth since its inception, with many analysts calling it the biggest macro trade over the last 10 years. While it is believed that the Bitcoin story is still far from reaching its climax, Peter Thiel, a well-known billionaire and PayPal founder, has once again underscored the revolutionary power of the flagship cryptocurrency.

Trending Bitcoin on the social media platform X shared an interview where the billionaire evaluated the monumental introduction of BTC and its significance. In the interview, Thiel described BTC as an invention so massive that society has found it difficult to understand or process its implications.

The PayPal founder’s audacious statement suggests that the scale and transformative nature of Bitcoin go far beyond conventional banking, signifying a paradigm shift in the definition of freedom, trust, and value in the digital era.

BTC, in Thiel’s opinion, is likened to a Tax Stagnation, where the society finds it difficult to comprehend its implications. “I think Bitcoin was a big invention, and whether good or bad, it was a pretty big deal,” the founder added. His remarks emphasize not only Bitcoin’s function as an alternative asset but also its status as a social phenomenon that is upending established structures and changing the way people talk about money around the world.

According to the founder, BTC was systematically underestimated for at least the first 10 to 11 years and was available for trade within the time frame. Furthermore, the asset experienced a smooth upward move in the same time frame and did not get repriced all at once.

Given that Bitcoin’s inception was monumental in a world where nothing big ever happens, Thiel stated that society had no way of processing it. He further drew a comparison to the historical launch of the Internet in 1989.

While it was launched in 1989, the project gained significant global adoption only in 1999. After analyzing BTC’s impact in the financial sector today, Thiel claims that the crypto king is witnessing the same explosive growth and recognition as the Internet in 1999.

A $200 Trillion Market Cap For BTC

Big investors and large firms continue to double down on Bitcoin. Amid this wave of institutional adoption, Michael Saylor, the founder of Strategy, has outlined the potential for BTC’s market cap to skyrocket. During a presentation, Saylor predicted that the BTC market cap could rise from a $2 trillion value to $200 trillion, representing a 100x growth.

Although at this audacious market value, BTC will still be lower than equity, real estate, and bonds, the chairman claims it will remain noticeable. Saylor has declared that Bitcoin is the emerging global asset and digital gold, which is probably 100 times better than Gold.

BTC trading at $113,899 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Pixabay, chart from Tradingview.com

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August 21, 2025 0 comments

Crypto Trends

Bitcoin Whale Dumps $75 Million to Go Long on Ethereum

by admin August 21, 2025

In brief

A long-dormant Bitcoin whale, inactive for seven years, has reawakened to sell a portion of its Bitcoin holdings.
The investor used the proceeds to open massive leveraged long positions on Ethereum, a move experts view as a strategic bet on ETH’s future growth.
This rare transfer could increase market volatility, but analysts believe the current mature market is better equipped to absorb such large-scale events than in the past.

A long-dormant OG Bitcoin whale has opted to swap a portion of their holdings to open leveraged long positions on Ethereum.

The whale held 14,837 BTC worth $1.67 billion for more than seven years without a transaction until today.

On August 21, the dormant whale moved roughly 670 BTC, worth $75 million at current prices, and split it among four wallets to open leveraged long positions on Ethereum. This signals a major asset rotation with clear bullish sentiment for the second-largest token by market capitalization.

At the time of writing, ETH is changing hands for $4,296.25 after having gained 4.1% in the past day. It’s still 6.4% down from last week, when it was hovering near its all-time high.

“This transfer indicates the activation of old BTC whales,” Slava Demchuk, CEO of blockchain analysis firm AMLBot, told Decrypt. He noted that the whale’s decision to sell Bitcoin to open leveraged long positions on Ethereum signals a “strategic rotation into alternative assets due to expectations of growth.”

The whale initially sold 660 BTC on the decentralized exchange Hyperliquid and used the proceeds to open leveraged long positions.

Three out of the four long positions have a 10x leverage with a notional position size of $209 million.

At the time of writing, Bitcoin is trading for around $113,000, having gained 1.2% in the past day, but down 10% from its peak on August 14.

Crypto and U.S. equities have been retreating as investors book profits and de-risk ahead of Friday’s Jackson Hole symposium. Federal Reserve Chair Jerome Powell is scheduled to deliver a speech addressing concerns about inflation and providing guidance for the September rate decision.

According to experts who previously spoke to Decrypt, a rate cut has already been priced in. Only a surprise from the Federal Open Market Committee, the body that sets U.S. monetary policy, could trigger volatility.

Signs of a mature market

While such large-scale movements from dormant wallets can be a cause for concern among investors, Demchuk believes the market is more resilient than in the past.

He referenced a previous event in July 2025 where a Satoshi-era whale moved 80,000 BTC, worth roughly $8 billion, which led to a 5% price drop in Bitcoin.

This new activity, however, demonstrates that Bitcoin that was once considered lost is actually still available to its holder, which could increase supply and volatility.

“A mature market is better at absorbing such events,” Demchuk explained, suggesting that while the whale’s actions may introduce some short-term volatility, the overall ecosystem is now more capable of handling large transactions without a catastrophic price collapse.

Three other wallets from the Satoshi era have come alive in the past two months. The latest instance occurred on August 7, when the whale moved $349 million in BTC after a decade of inactivity.

July saw two such major moves with a $469 million transfer after 14 years of dormancy and the aforementioned $8 billion BTC transfer.

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Crypto Trends

Hong Kong Firm Stock Jumps On $483M Bitcoin Acquisition Plan

by admin August 21, 2025

Nasdaq-listed Hong Kong construction firm Ming Shing Group Holdings said Wednesday it has entered into an agreement to acquire 4,250 Bitcoin for nearly $483 million, joining the wave of companies adding the cryptocurrency to their treasuries.

If successful, the deal would make Ming Shing Hong Kong’s top Bitcoin (BTC) treasury according to BitcoinTreasuries.NET data, surpassing even Buyaa Ineractive International with its 3,350 BTC as Bitcoin and crypto adoption take the corporate world by storm.

“We believe the Bitcoin market is highly liquid and the investment can capture the potential appreciation of Bitcoin and increase the Company’s assets,” Wenjin Li, CEO of Ming Shing, said.

Ming Shing’s financials show it has been under pressure, with a negative profit margin of -3.9% in 2025 and a $5.35 million loss before interest and taxes, according to Stock Analysis data.

Related: The Bitcoin treasury model is breaking, but Strategy’s isn’t. Here’s why

Ming Shing will not pay cash for the BTC. Instead, it plans to issue 10-year, 3% convertible notes (convertible at $1.20/share) and 12-year warrants covering a total of 402,467,916 shares (exercisable at $1.25/share).

Two British Virgin Islands-based firms are involved. Winning Mission Group is selling the 4,250 BTC and will receive a $241,480,750 convertible note plus a warrant for 201,233,958 shares. Rich Plenty Investment will receive the same package from Ming Shing and issue a promissory note to Winning Mission for 2,125 BTC.

Massive potential dilution for shareholders

The structure could sharply dilute Ming Shing’s existing shareholders. The company currently has fewer than 13 million shares outstanding. If the convertible notes are exercised but warrants remain unexercised, the share count would jump to more than 415 million, leaving current shareholders with about 3.1% ownership.

In a worst-case scenario — if all notes, warrants and accrued interest were converted — Ming Shing’s share count could rise to nearly 939 million, reducing current holders to about 1.4% ownership. The transaction also depends on shareholder approval to authorize more shares, since the company currently has only 100 million authorized.

Related: 10 public companies that quietly turned their balance sheets into Bitcoin treasuries

According to Google Finance data, Ming Shing stock spiked sharply on the news, despite trading bearishly over the longer term. The company’s stock has faced steep declines over the past year, losing 70.5% in value, including a 44% drop in the past month and 24% over the past five days.

The initial upward price movement reached $2.15 on Wednesday, but most of the gains were lost on the same day. Still, at Ming Ching’s current price of $1.65, the stock is nearly 11.5% up on Thursday.

Ming Shing Group Holdings Ltd 24-hour price chart. Source: Google Finance

Hong Kong pushes deeper into crypto

The announcement comes as Hong Kong continues its push to become a digital asset hub. Regulators approved spot Bitcoin and Ether exchange-traded funds in April 2024 and issued the first crypto asset service provider licenses earlier this year.

In February, the Securities and Futures Commission (SFC) introduced the “ASPIRe” roadmap to guide local regulation. Earlier this month, the SFC finalized a stablecoin ordinance criminalizing unlicensed issuers and issued new custody guidance for crypto companies.

Reports this week also indicated that CMB International Securities, a subsidiary of one of China’s top banks, had begun offering virtual asset trading services in Hong Kong.

Magazine: Bitcoin OG Willy Woo has sold most of his Bitcoin: Here’s why

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August 21, 2025 0 comments

NFT Gaming

Coinbase CEO predicts Bitcoin will hit $1million by 2030

by admin August 21, 2025

The CEO of Coinbase has shared a bullish long-term target for Bitcoin, predicting the cryptocurrency’s price could be worth a million dollars in the coming years.

Summary

Coinbase CEO Brian Armstrong is bullish on Bitcoin’s long-term potential.
Armstrong points to regulatory developments, including the GENIUS Stablecoin Act, as evidence of increasing market clarity.
Other industry figures, including Michael Saylor and Cathie Wood, also project Bitcoin reaching $1 million or more by 2030.

Speaking on the Cheeky Pint podcast recently, Coinbase CEO Brian Armstrong expressed his belief in Bitcoin’s (BTC) long-term potential to reach the $1 million price point by 2030.

“The rough idea I have in my head is that we will see a million-dollar Bitcoin by 2030,” he said, responding to host John Collison’s question about his price expectations.

Armstrong pointed to shifting regulatory scenes and growing institutional demand as key drivers of his predictions. He noted that the recent passage of pro-crypto legislation, including the GENIUS Stablecoin Act and other key market structure bills under review in Congress, signals growing clarity for the industry, a reality that was once seemed a distant dream.

I think we’ll see $1M per bitcoin by 2030.

Regulatory clarity is finally emerging, the US government is keeping a BTC reserve, there’s a growing interest for crypto ETFs, among many other factors.

(Not financial advice of course, it’s impossible to guarantee) pic.twitter.com/w5EfcYFvVp

— Brian Armstrong (@brian_armstrong) August 20, 2025

“We’re starting to see regulatory clarity emerge in the U.S senate,” he added. The CEO also pointed to the adoption of a Bitcoin reserve by the U.S, as well as the broader trend among several governments globally. He stressed that these developments mark a new milestone, removing uncertainties that once clouded the industry’s long-term outlook.

Growing institutional demand from corporate entities and exchange-traded funds is another key driver of his forecast. With the success of Bitcoin ETFs and traditional financial institutions now betting on the asset, Armstrong added that these channels have become a gateway for mainstream investors, and continued inflows of capital are expected to push prices higher.

Coinbase CEO’s BTC price target aligns with other bullish calls

Armstrong is not alone in making long-term calls for Bitcoin. Other industry figures, including Strategy’s Michael Saylor, have made similar projections. Earlier in June, Saylor cited rising institutional demand and limited supply as catalysts for BTC climbing to the $1 million mark.

Cathie Wood of ARK Invest has set an even higher price target of $1.5 million for BTC by 2030, exceeding Coinbase CEO Armstrong’s forecast. These predictions share common ground, with expectations that Bitcoin adoption will continue to grow, solidifying its role as a global store of value.

Meanwhile, Bitcoin has traded sideways over the past week. Since failing to sustain the rally that pushed it to a new all-time high above $124,000, the asset has struggled to maintain momentum. At the time of writing, BTC sits just under $113,368 according to market data from crypto.news, down 0.29% on the day and roughly 6.8% over the past seven days.

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August 21, 2025 0 comments

Crypto Trends

Scammer Impersonates UK Police to Steal Bitcoin Worth $2.8M

by admin August 21, 2025

The Welsh police are investigating a theft in which the scammer posed as a senior UK police officer and stole Bitcoin (BTC) worth approximately $2.8 million. The cyber team of the North Wales police stated that this theft was part of an ongoing trend where scammers target cold wallets of long-term cryptocurrency holders.

As per a Facebook post from NWP Cyber Crime Department, the scammer won the confidence of the victim by claiming that his details had been found on the phone of someone who was recently arrested and asked the victim to secure their funds via a phishing link. After gaining total control of the wallet, the scammer withdrew $2.8 million worth of BTC immediately.

“Scammers are constantly evolving their tactics,” the North Wales police said, “They are not just targeting new investors; they are crafting sophisticated social engineering schemes to trick even the most diligent holders.”

The police stated that through fear and urgency tactics used by most digital thieves, the victim was compelled to enter their seed phrase, which resulted in the diversion of funds to a sophisticated but fraudulent site. The police are now trying to trace and recover the funds, meanwhile recommending the masses to stay alert.

Police Share Advisories for Business and People

With the number of scams on the rise globally, authorities worldwide have been sharing advisories. Earlier this year, the UK police urged the public to be more vigilant against cyber crimes. They stated, “Police will NEVER call you unexpectedly to discuss your crypto assets or ask you to take action on your cold storage device. This is a big red flag.”

Moreover, earlier this month, the FBI also warned that the scammers are impersonating law agencies to contact victims of previous crypto scams and asked the public to report the scams at the earliest.

Also Read: Bitcoin Holds $113K Support, Can BTC Break Above $117.5K?

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August 21, 2025 0 comments

Crypto Trends

Bitcoin Crash to $100? Harvard Professor Rogoff Revisits 2018 BTC Price Prediction

by admin August 21, 2025

In 2018, Kenneth S Rogoff, professor of economics at Harvard University and a former chief economist at the International Monetary Fund, predicted bitcoin

was more likely to be worth $100 than $100,000 in a decade.

In reality, bitcoin’s price rose above $100,000 this year, a 10-fold increase from March 2018’s sub-$10,000 level when Rogoff predicted the crash.

On Tuesday, with bitcoin hovering around $113,000, Rogoff reflected on how he had missed the mark, saying he had been “far too optimistic about the U.S. coming to its senses regarding sensible cryptocurrency regulation.”

In a post on X, Harvard economist Ken Rogoff expressed said he’d expected policymakers to adopt a firm stance to curb the use of cryptocurrencies in tax evasion and illegal activities. He was, indirectly, criticizing the regulatory environment as being less than prudent and allowing cryptocurrencies like BTC to flourish in ways he did not anticipate.

Rogoff underestimated how bitcoin would compete with fiat currencies to serve as the transaction medium of choice in the 20 trillion-dollar global underground economy.

“This demand puts a floor on its price, as I discuss at length in my new book Our Dollar, Your Problem,” Rogoff said.

He also flagged a “blatant conflict of interest,” with regulators “holding hundreds of millions (if not billions) of dollars in cryptocurrencies seemingly without consequence.”

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August 21, 2025 0 comments

Crypto Trends

Bitcoin Options Traders Split Ahead of Fed’s Jackson Hole Meeting

by admin August 21, 2025

In brief

Options data indicates that Bitcoin traders are split, with nearly equal bullish and bearish block trades.
Experts suggest markets will be closely watching for Powell’s tone if there’s no clear decision surrounding rate cuts.
They also said crypto’s bullish market structure remains intact in the long term.

Bitcoin traders are entering a high-stakes standoff ahead of Federal Reserve Chair Jerome Powell’s highly anticipated speech at the Jackson Hole symposium on Friday.

With conflicting macroeconomic signals and mixed investor sentiment, the directional bias remains unclear for U.S. equities and crypto.

The July CPI report, delivered earlier this month, provided a bullish signal with rate cut hopes, prompting a crypto market rally that pushed Bitcoin to an all-time high in the first two weeks of August.

Subsequent PPI data release, however, has elevated inflation concerns, further aggravating ambiguity over whether the Fed intends to cut rates this year, including next month.

Bitcoin has dropped from 8% from its August 14 all-time high of around $124,128 to $114,170 following a sharp decline over the past seven days, CoinGecko data shows.

Despite Bitcoin being near record highs, “the market is pricing in roughly an 85% chance of a rate cut at the September FOMC meeting,” John Haar, managing director at Swan Bitcoin, told Decrypt.

“Powell is likely to keep his comments relatively neutral in order to keep his options open,” Harr added.

To cut or not to cut, that is Powell’s question

While bond traders remain adamant that a cut will arrive in September, the uncertainty has led to a split in investor expectations and betting in the derivatives market.

The “block bullish and bearish trades were nearly equal,” Adam Chu, Chief researcher at GreeksLive, an options trading platform, told Decypt.

Even with marked trading volume, “short-term implied volatility declined,” Adam said, indicating “institutional investors are not very optimistic that this meeting will bring about significant volatility.”

In any case, the market’s reaction hinges on Powell’s tone.

“It’s clear that many investors are hoping for a rate cut,” James Gernetzke, CFO at Exodus, told Decrypt.

Gernetzke believes that while a rate decision may not become clear until future data is released, investors should still “take note of his tone—this will matter just as much as the specifics.”

“Bitcoin and crypto assets are sensitive to global liquidity conditions and should respond favorably to any further signal the Fed will continue on its dovish path,” Gerry O’Shea, head of global market insights at Hashdex, told Decrypt.

A hawkish tone, however, could spark a renewed sell-off in equities and crypto.

But Gernetzke also offered a nuanced view, noting that this crypto market cycle is “atypical due to regulatory tailwinds” and institutional adoption, which “could soften the blow of a hawkish Powell.”

O’Shea echoed that sentiment, arguing that any negative near-term decision on rates wouldn’t impact the long-term investment case for crypto, supported by institutional adoption and favorable policy from the White House.

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August 21, 2025 0 comments

GameFi Guides

CEO of Largest US Crypto Exchange Stuns with $1 Million Bitcoin Price Prediction

by admin August 21, 2025

Main catalysts
Other $1 million predictions

Brian Armstrong, chief executive officer at American cryptocurrency exchange behemoth Coinbase, has predicted that the price of Bitcoin could potentially reach $1 million.

Armstrong sees the largest cryptocurrency achieving this milestone by 2030.

Main catalysts

“We are starting to see regulatory clarity emerge in the US, which I think is a bellwether for the rest of the G20,” he said.

The GENIUS Act, which establishes a clear regulatory framework for stablecoins, was signed into law earlier this summer in the U.S.

Armstrong is hopeful that key market structure legislation will also be passed this year, which he believes would be a significant milestone.

He has emphasized that the lack of regulatory clarity is holding back institutions from allocating a bigger portion of their funds to Bitcoin.

The billionaire also recalled that it would be “crazy” for someone to suggest a few years ago that the U.S. would hold Bitcoin as part of its official strategic reserve. However, this is the reality now.

As reported by U.Today, Treasury Secretary Scott Bessent recently stated that the U.S. would not be buying more Bitcoin on top of the forfeited coins, but he then backtracked on this statement within the same day.

Armstrong has added that Coinbase provides services to a total of 240 government entities. “Govermemts are now getting more and more engaged in this,” he stressed.

The risk of governments shutting down Bitcoin has been “severely diminished,” Armstrong said.

Other $1 million predictions

Armstrong is not the only crypto luminary who has predicted that Bitcoin could potentially surpass the much-coveted $1 million milestone.

In May, Binance co-founder Changpeng Zhao forecasted that the flagship coin could reach seven figures during the current cycle.

As reported by U.Today, Galaxy CEO Mike Novogratz also sees Bitcoin hitting $1 million, potentially surpassing the market cap of gold, if the U.S. keeps printing money.

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August 21, 2025 0 comments

GameFi Guides

There’s ‘No Question In The World’ Bitcoin Will Be Worth $1M: Eric Trump

by admin August 21, 2025

JACKSON HOLE, Wyo. — U.S. President Donald Trump’s son, Eric Trump, is convinced bitcoin

will eventually be worth over $1 million.

Trump, who co-founded bitcoin mining company American Bitcoin earlier this year, reiterated his excitement for bitcoin during an appearance at the SALT conference in Jackson Hole on Wednesday.

He even called himself a “bitcoin maxi.”

The businessman and executive vice president of the Trump organization said he now spends over 50% of his time on crypto projects.

He said he believes that the crypto asset will be worth $175,000 a token by the end of the year, sticking with his earlier prediction.

Trump told several personal stories pointing out what he described as the flaws of the current financial system and how bitcoin and blockchain technology can solve those issues, including faster transactions and payment settlements.

American Bitcoin, which merged with Eric and his brother Donald Trump Jr-owned American Data Center in March, is expected to go public on Nasdaq via a merger with Gryphon Digital Mining (GRYP).

The brothers own 20% of the company while bitcoin miner Hut 8 holds the remaining 80%.

Trump’s comments came hours after Coinbase CEO Brian Armstrong made a similar prediction.

Join the crypto policy conversation Sept. 10 in D.C. — Register now for CoinDesk: Policy & Regulation.

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