Bitcoin OG Expands Ethereum Position With New $108 Million Bitcoin Transfer

Bitcoin OG deposited another 1,000 BTC ($108M) into Hyperliquid, continuing systematic Bitcoin-to-Ethereum conversions.

The wallet has accumulated 837,429 ETH worth $3.85B through repeated large-scale spot trades over 12 hours.

Consistent transfers show Bitcoin reserves shrinking as Ethereum becomes the primary holding in the wallet.

The Bitcoin OG wallet has resumed heavy trading activity, adding another major Bitcoin transfer to its record of transactions. After earlier exchanging 4,000 BTC for nearly 97,000 ETH, the wallet has continued shifting capital into Ethereum. Data from recent transfers shows the wallet deposited 1,000 BTC, valued at $108.08 million, into Hyperliquid. This move extends a pattern established across the past twelve hours where Bitcoin outflows were directly matched with Ethereum inflows.

Billions Already Converted Into Ethereum

Over the course of recent activity, the Bitcoin OG wallet acquired 837,429 ETH worth $3.85 billion. The purchases were executed through multiple trades, each ranging between 3,000 ETH and 10,495 ETH

Values of the trades fell between $14 million and $46 million, demonstrating consistent scale. Three separate deposits of 1,000 BTC, each exceeding $108 million, were previously sent to Hyperunit Deposit addresses. These deposits were followed by continuous ETH inflows that steadily raised the total balance of Ethereum.

The conversion pattern shows a direct swap strategy, where Bitcoin sales were converted into large blocks of ETH. Each transfer took place within short time intervals, showing systematic execution. The process was repeated in consistent fashion, and all transactions directed funds into Ethereum without diversion into other assets.

Latest Deposit Extends Previous Activity

The most recent 1,000 BTC deposit maintains the wallet’s established trading behavior. Hyperliquid records show Ethereum spot purchases occurring soon after each deposit. Orders displayed in the trading book registered ETH buys between $85,000 and $132,000 per transaction. The activity demonstrates an ongoing cycle where Bitcoin is moved into Hyperliquid, exchanged, and returned as Ethereum holdings.

Earlier movements confirm this structure. Inflows of 9,300 ETH, 6,200 ETH, and 10,495 ETH illustrate the scale of repeated accumulation. Each recorded inflow aligned with a prior Bitcoin deposit, keeping a direct link between assets sold and assets purchased. The wallet’s trading pattern has now repeated across multiple sessions, with no deviations observed in execution.

Continued Reduction of Bitcoin Holdings

Market records confirm the Bitcoin OG wallet continues to lower its Bitcoin balance. At the same time, Ethereum exposure has grown with every new inflow. The latest transfer of 1,000 BTC mirrors earlier deposits and represents another stage in the ongoing reallocation. The wallet now holds Ethereum as its main balance, following billions in purchases executed in the same manner.

By executing transfers at consistent scales and time intervals, the wallet has expanded Ethereum holdings while reducing Bitcoin reserves. The recorded data shows a systematic redirection of assets and places Ethereum at the center of this accumulation trend.