Early Bitcoin Adopter Erik Voorhees Returns to Buying Ethereum 'Like Crazy'
News By Alex Dovbnya Mon, 16/03/2026 - 7:40 ShapeShift founder and early Bitcoin advocate Erik Voorhees has made a high-conviction return to the market. Advertisement
Erik Voorhees, the legendary early Bitcoin advocate and founder of the ShapeShift exchange, is currently accumulating Ethereum (ETH) at a rather impressive pace.
AdvertisementBlockchain analytics platform Lookonchain has noted that Voorhees is “buying ETH like crazy after a one-year break” in response to the massive moves.
Voorhees has deployed capital through decentralized settlement networks like CoW Protocol. He has spent a total of $49 million in USDT, with the total number of acquired tokens nearing 24,000. The average execution price stands at $2,098.
HOT Stories Crypto Market Review: Where Did XRP's Volatility Go? Bitcoin (BTC) $72,000 Break Is Not What You Think It Is, Did Shiba Inu (SHIB) Reach Top? Price Below $0.000006 Strategy (MSTR) Buys $1.3 Billion Worth of Bitcoin, Ripple Secures Major Partnership, SBI Offers XRP Rewards to Investors — Top Weekly Crypto NewsHis associated wallets still hold approximately $35.25 million in stablecoin reserves (USDT and Aave-yield bearing AETHUSDT).
AdvertisementA smart money rotation?
Voorhees is not the only high-net-worth individual pivoting hard into Ethereum this week.
A wallet linked to an early Ethereum builder recently dropped $17.46 million to scoop up 7,769 ETH at an average price of $2,248 in just two hours.
A notable crypto whale recently closed a lucrative Bitcoin perpetual futures long position for a $1.88 million profit. Following the closure, the whale withdrew over 7 million USDC and immediately pivoted to buying 1,827 ETH on the spot market. The whale now holds a massive 12,028 ETH stash valued at roughly $24.97 million.
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Heavyweight liquidity provider Cumberland is also actively accumulating. Wallets linked to the trading firm recently withdrew 23,000 ETH (worth over $50.1 million) from major centralized exchanges like Binance and Coinbase
This wave of high-profile buying has injected some much-needed bullish sentiment into the Ethereum market. The asset is currently up 7.6% over the past 24 hours, easily clearing the $2,200 resistance level to trade around $2,270.
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