Erik Voorhees, who has been active in the cryptocurrency industry for many years, made a remarkable investment move in Ethereum. Voorhees, which has made a name for itself in the digital asset market, made a new purchase of $ 20 million after disposing of a significant portion of the Ether assets in its portfolio about a year ago.
Purchasing Large Amounts of ETH
Data shared by blockchain analysis platforms shows that Voorhees purchased approximately 9,911 Ether at an average price of $2,057. 20.38 million USDC was used for this transaction. The investor earned a total income of $33.94 million by selling 11,616 Ether about a year ago, when prices reached $2,922.
Timing Element in Market Strategy
Voorhees’ new Ether purchase means, in a sense, that he is buying back the asset he previously sold at a lower price against market fluctuations. Thus, the average purchase price of his portfolio also decreased. This move signals Voorhees’ renewed confidence in Ethereum.
Erik Voorhees, who has recently taken active steps in the field of Ethereum, is seen as one of the first names to introduce the concept of “digital gold” to the market. He works on decentralized finance and the freedom of individual investors in the sector with his own company, ShapeShift.
It appears that there is a long-term commitment to the Ethereum ecosystem behind this transaction, despite the macroeconomic uncertainties in the market. Although Voorhees did not make a post-purchase statement, the investor has been seen to move in different asset classes recently.
Diversification with Bitcoin and Gold-Based Tokens
Voorhees’ investment approach is not limited to just Ether and Bitcoin. On-chain records reveal that he recently purchased approximately 6.8 million USDC worth of assets equivalent to 1,382 ounces of gold-linked PAXG tokens. These purchases indicate that a diversification strategy is being implemented in the investment portfolio.
In this context, it is observed that Voorhees is trying to establish a balance between cryptocurrencies and traditional safe haven assets. The latest Ether purchase reflects belief in Ethereum’s long-term potential rather than short-term price movements.
On the other hand, Vitalik Buterin, one of the founders of Ethereum, recently shared his opinion with the community and emphasized that Ethereum does not belong to him or any particular group.
Buterin said, “There is no need for everyone to agree with my personal views. The platform is open to everyone who wants to develop and use Ethereum.”
