Andrew Kang, founder of the Crypto Venture Firm Méchanism Capital, apparently doubled on his bet that Bitcoin will win a price with a position of $ 200 million, according to ONCHAIN data.
“Andrew Kang has just doubled his Bitcoin position,” said Crypto Arkham’s analysis company in a post of April 12. He explained that a cryptographic address linked to Kang made a 100 million dollars on Bitcoin (BTC) with a profit or expected loss of $ 6.8 million.
On April 9, Arkham noted that the portfolio linked to Kang had put a 100 million dollars bet on Bitcoin after US President Donald Trump published on his social platform Truth earlier the same day as “This is the ideal time to buy !!! DJT ”.
Source: Arkham
A few hours later, the Trump administration announced a 90 -day break on its world hiking pricing scheme, which sent crypto and actions. The prices, unveiled for the first time on April 2, had been posted a few hours earlier and had landed most of the financial markets.
Kang declared in a post of April 12 that the capitulation of the trade war and a “put Trump” – the conviction that the president will work to lower the stock market – “are the perfect combination for BTC inversing a drop -down trend of several months”.
Kang noted that Trump’s April 9 Social Post could be a sign of the so-called “Trump put”. Source: Andrew Kang
Meanwhile, the Senate Democrats called on the Securities and Exchange Commission in a letter of April 11 to launch an investigation into negotiation and manipulation of the initiate market on Trump and his companies affiliated on the post, who, according to them, “seems to have presented his plans” to take a price break.
Bitcoin jerky on pricing confusion
Bitcoin has seen a swing of more than 2% in the last 24 hours while the Trump administration was going on pricing exemptions for Chinese electronic goods.
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Bitcoin has reached a 24-hour $ 83 197 hour, wiping most of the earnings he made before the weekend, but he has since recovered to exchange flat in the last day at around $ 85,000 after having briefly reached a summit of $ 85,315, Coindecko data.
Trump said on Truth Social on April 13 that “there was no” exception “price announced on Friday, April 11, but that the samples from Chinese electronics” move to a “bucket” of 20%.
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