Whale "Strategy Counterparty" Opens $11.97M 40x BTC Long, Exits BTC/ETH Shorts

The "Strategy Counterparty" whale address (0x94d) opened a 40x leveraged BTC long position worth $11.97 million at an average price of $63,275 within the past hour on Feb. 24, after closing all BTC and ETH short positions earlier today, Coinbob Popular Address Monitoring data show as cited by BlockBeats. The closed shorts comprised a $31.74 million ETH short initiated two days ago, a $13.58 million BTC short, and an approximately $40.74 million BTC short opened briefly today and closed for profit within two hours. The address currently holds $11.8 million in unused margin and has generated $2.85 million in profit over the past seven days. BlockBeats reports the address began accumulating positions in December last year with an initial account size of approximately $20 million and, due to its opposite trading direction to MicroStrategy, is viewed by the market as an on-chain counterparty to the publicly traded company.