Veteran crypto advocate Eric Voorhees, an early supporter of Bitcoin and founder of Shapeshift, has bought back a significant amount of Ethereum after selling a large amount of stock about a year ago, according to on-chain data shared by analytical account Lookonchain.
summary
- Eric Voorhees bought back 9,911 $ETH According to on-chain data shared by Lookonchain, it was sold for $20.38 million with an average price of $2,057.
- About a year ago, he sold 11,616 units $ETH 33.94 million, which traded for about $2,922, effectively repurchasing it at about a 30% discount.
- The move follows his recent diversification into tokenized gold and signals a broader strategy of tactical timing and portfolio hedging.
Eric Voorhees buys back $20 million of Ethereum after selling it last year
In a widely circulated tweet, Lookonchain reported that Voorhees spent 20.38 million $USDC Obtained 9,911 Ethereum ($ETH) The average price is approximately $2,057.
About a year ago, it sold 11,616 units. $ETH When the price was close to $2,922, it was about $33.94 million.
The move suggests tactical timing. His previous selling price was approximately $2,922 per bottle $ETH gave us a profit of approximately $33.94 million, while the recent buyback cost us $20.38 million, allowing us to re-accumulate a large position at a price approximately 30% lower.
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The deal also marks a notable return to Ethereum for Voorhees, who has built a reputation as one of the most influential figures in the crypto world over the years. He has been active in the field since at least 2011 and has become a vocal supporter of Bitcoin. $BTC As “digital gold”, we will contribute to the formation of early adoption of cryptocurrencies.
Voorhees has also recently gained attention for diversifying into assets other than Bitcoin. $ETHcontaining millions of worth of tokenized gold. According to on-chain data, he spent about $6.8 million $USDC It bought 1,382 ounces of the gold-backed token PAXG, underscoring its broader strategy of hedging market volatility with traditional safe-haven assets.
of $ETH The buyback likely reflects renewed confidence in Ethereum despite price volatility and macro uncertainty. Buying near $2,057 with an entry point lower than the previous sell suggests long-term accumulation rather than a short-term trade.
Voorhees’ actions highlight an ongoing theme among savvy crypto investors of balancing digital asset exposure with strategic diversification amid changing market conditions.
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