BTC OG-linked address holds $267 million in Hyperliquid positions with $16 million unrealized ETH long profit

An address dubbed "BTC OG" (0xb31) holds about $267 million in positions on Hyperliquid with $15.97 million, or 30%, in unrealized gains from ETH longs as of December 10, based on Coinbob's tracking of popular wallets cited by BlockBeats. Over the past 8 hours, the address deposited roughly $50 million to Hyperliquid and slightly increased its ETH long exposure by 895 ETH worth about $3.25 million, while most of the new capital remains unused and the average ETH entry price rose from $3,068 on December 9 to $3,108. Between the night of December 7 and the morning of December 8, the same address transferred $70 million from a Binance wallet to Hyperliquid and opened 5x leveraged ETH longs with an average price of $3,048 and a position size of about $160 million, described as its largest opening in nearly 30 days. BlockBeats also notes that this OG wallet once held more than 50,000 BTC, later rotated part of its BTC into ETH, previously drew attention for building $500 million in BTC shorts hours before the "10.11" sell-off and realizing nearly $100 million in profit, and was described by BitForex CEO Garrett Jin as being connected to one of his clients.