Famous trader bets 200 million USD on Bitcoin – The risk level makes everyone 'sweat'!
One of the most prominent figures in the cryptocurrency investment world – Andrew Kang – has just stunned the community by doubling his long Bitcoin position to 200 million USD, with 40x leverage.
Big bets after Trump's announcement
Everything started on April 9, right after U.S. President Donald Trump stated that 'this is a good time to buy'. Soon after, Kang opened a long position worth 100 million USD, expecting the price of BTC to continue rising.
And indeed: Bitcoin has now surpassed the 85,000 USD mark, helping Kang temporarily profit 7.7 million USD, according to on-chain data.
High leverage – huge profits, unpredictable risks
However, accompanying the 'sweet' profit, the risk is also extremely high: With 40x leverage, if BTC only drops to 83,410 USD, all of Kang's bet could burn his account.
Currently, he has to pay 115,000 USD in funding fees for this order.
Kang's wallet address is: 0xBb876071A63Bc4D9bfCf46B012b4437Ea7Ff4281, everyone can follow the orders directly on the blockchain.
Besides BTC, Kang is also 'betting' on ETH and ENA.
Not only betting on Bitcoin, Kang also has other positions:
Short ETH worth 6.7 million USD with 25x leverage → currently losing 370,000 USD
Long ENA worth 5.5 million USD with 10x leverage → currently making 118,000 USD
Although Kang is a veteran trader, it cannot be denied: Trading with high leverage is very risky, especially in a volatile market like crypto. Just one sudden price drop can cause the entire capital to evaporate in an instant.