Bitcoin (CRYPTO: BTC) veteran and ShapeShift founder Erik Voorhees bought Ethereum (CRYPTO: ETH) on Sunday after a year-long trading pause, snapping up tens of millions worth of the second-largest cryptocurrency.
Bitcoin Pioneer’s Ethereum Play
On-chain tracking firm Lookonchain reported that Voorhees used over $49 million in Tether (CRYPTO: USDT) to acquire 23,393 ETH at an average price of $2,098 through two wallets. The latest purchases increased his overall ETH holdings across the two wallets to $41.17 million.
Voorhees still holds over $26 million in USDT at the time of writing.