A well-known early Bitcoin investor, often identified as Bitcoin OG 1011, is currently facing an unrealized loss exceeding $12.5 million on a substantial $617 million long position spread across multiple cryptocurrencies.
According to recent data, this investor holds significant amounts of Ethereum, Bitcoin, and Solana within their portfolio. Specifically, the holdings include approximately 160,403 ETH valued at around $499 million, 1,000 BTC worth about $90.35 million, and 250,000 SOL estimated at $33.65 million.
Earlier today, the trader initiated a massive long position in Ethereum totaling roughly $491 million while also maintaining large stakes in Bitcoin and Solana. This bold move has sparked discussions about potential insider knowledge or anticipated shifts in the crypto market landscape.
Bitcoin’s price fell below the $90,000 mark on Friday after reaching highs near $92,500 earlier that day; it was last recorded trading close to $89,600 according to CoinGecko data.
Meanwhile, Ethereum experienced a decline of approximately 4%, dropping to around $3, 000 over the previous day’s trading session. Solana also saw decreases but with relatively low volatility compared to other assets.