May 2025 has been a rollercoaster for Bitcoin. Prices soared from $74,000 in April to over $103,000. In the middle of this chaos, James Wynn—a trader famous for past big wins—took a huge risk: a $1 billion long position on Bitcoin at 40x leverage.
He didn’t stop there. Wynn expanded it to $1.25 billion, betting big that Bitcoin would keep climbing. But the market had other ideas. Prices retraced, and Wynn ended up closing the trade with a $37.42 million loss.
This trade shows how leverage can be a double-edged sword. Yes, it can multiply profits, but it can just as easily turn into massive losses—especially when betting near record highs.
For anyone trading in this volatile market, Wynn’s experience is a blunt reminder:
Know your risks. Protect your positions. And don’t let leverage turn a good idea into a costly mistake.
