According to PANews, a savvy investor has successfully capitalized on strategic trades involving Ethereum (ETH) and Wrapped Bitcoin (WBTC), resulting in a net gain of 1,533 ETH over eight months.
On March 19, when ETH was valued at $3,518, the investor exchanged 2,942 ETH for 150 WBTC, with a cost basis of $62,724. Additionally, the investor purchased an extra 116 WBTC. This strategic move was part of a calculated approach to maximize returns by leveraging the fluctuating values of ETH and WBTC.
Recently, when Bitcoin (BTC) reached a new high of $98,828, the investor converted 90.8 WBTC back into 2,709 ETH, with a cost basis of $3,312. This transaction further exemplifies the investor's adeptness at timing the market to optimize profits.
Moreover, the investor's separate holdings in WBTC have also yielded a floating profit of $4.156 million, showcasing the effectiveness of their trading strategy in navigating the volatile cryptocurrency market.
