High-Stakes Bitcoin Bet: James Wynn’s $1.25B Long Position

Crypto trader James Wynn, known for his high-risk strategies on the Hyperliquid platform, has dramatically increased his Bitcoin long position. After securing a substantial profit from his $PEPE position, Wynn boosted his leveraged Bitcoin bet to a staggering $1.25 billion.

On May 24th, Lookonchain reported Wynn’s acquisition of 11,588 BTC at an average price of $108,243, with a liquidation level of $105,180. This bold move followed Wynn’s exit from his Ether (ETH) and Sui (SUI) long positions, resulting in a $5.3 million loss. The funds were immediately reinvested into his Bitcoin position, initially worth $830 million on May 21st.

Wynn initially secured $400 million in profits from his Bitcoin trade on May 21st. However, he strategically increased the position to $1.1 billion by May 22nd, capitalizing on BTC’s surge past $110,000. This move generated a $39 million paper profit. Later, he sold 540 BTC for a $60 million profit.

Trump’s tariff announcement impacted the market causing a downturn in the Bitcoin price. This resulted in Wynn suffering losses, however, he still maintains significant overall profit.

Wynn, a self-described high-risk leverage trader and memecoin maxi, is known for his aggressive trading style. His use of Hyperliquid’s platform reflects his strategic approach to high-leverage crypto trading. This platform offers services such as spot trading, borrowing, lending and more. His significant Bitcoin long position highlights the high-stakes nature of the crypto market.