Bitcoin OG Whale Adds Another $1B in Ethereum Despite Midterm Correction Risks

The popular Bitcoin OG, known for aggressively rotating capital from BTC to Ethereum (ETH), has continued with the trend. After purchasing Ether coins valued at more than $4 billion, the Bitcoin OG has since staked all the accumulated Ethereum coins to earn regular rewards.

Bitcoin OG Doubles Down on Ethereum

According to on-chain data analysis from Arkham Intelligence, the $5 billion Bitcoin OG has purchased more Ether worth more than $1 billion today, September 1. Over the last 24 hours, a Bitcoin whale purchased $1.08 billion in ETH and staked it all to earn additional rewards.

The whale investor has been depositing Bitcoins to Hyperunit to facilitate Ethereum purchases, whereby Lookonchain estimates that the Bitcoin OG sold 35,991 BTC since August 20, 2025. As a result, the whale investor now holds 886,371 ETH, valued at over $4 billion.

Since Aug 20, the Bitcoin OG has sold 35,991 $BTC($4.04B) and bought 886,371 $ETH($4.07B) at a 0.0406 rate on #Hyperliquid.

He still holds 49,634 $BTC($5.43B) in 4 wallets. pic.twitter.com/ns7T1zMtAO

— Lookonchain (@lookonchain) September 1, 2025

At the time of this writing, the Bitcoin OG still holds 49,634 BTCs, valued at over $5.4 billion, thus signaling more purchasing power for ETH. Furthermore, the Bitcoin OG purchased Ether worth over $433 million on Sunday, and accelerated during the past 24 hours.

ETH Supply on Exchanges Declines on High Institutional Demand

The notable Ether accumulation by the Bitcoin OG is similar to the renewed demand for ETH by the U.S. spot Ethereum ETFs. Notably, the U.S. spot ETH ETFs recorded a cumulative net cash inflow of about $3.87 billion in August 2025, slightly lower than the Bitcoin OG’s Ether accumulation. 

Notably, the U.S. spot Ether ETFs have recorded five consecutive months of net cash inflows of over $10 billion. However, the U.S. spot Ether ETFs opened in September with negative sentiment, with the cohorts registering a net cash outflow of 4,319 ETH, valued at around $19 million.

As a result of the rising demand for Ethereum by whale investors, its net supply on centralized exchanges has continued to decline at an exponential rate. According to data from CryptoQuant, the ETH balance on Binance has continued to decline in recent times, despite the ongoing market correlation.

“While Bitcoin reserves on Binance exchange have remained relatively stable, Ethereum reserves show a persistent downward trend. This divergence suggests stronger demand for Ethereum compared to Bitcoin, indicating that market participants are actively accumulating ETH even during the current price consolidation phase,” CryptoQuant noted.

The demand for Ethereum by institutional investors seeking to implement strategic reserves has grown significantly, led by BitMine and SharpLink.

Analyst Predicts Midterm Ether Weakness

According to popular crypto analyst Benjamin Cowen, the ETH price is expected to drop further, possibly below $ 4,000, soon. Cowen issued a bold prediction on ETH after previously making a similar move that proved to be true.

The crypto analyst has predicted that the ETH price will drop to the 21-weekly EMA, which currently hovers around $3.5k, before finding macro support for the next bull leg. Cowen believes the short-term impact of the Fed rate cut hype on September 17 may turn out to be bearish for the broader crypto market.