A businessman on the decentralized platform of Hyperliquid derivatives used 50X leverage to open a $ 200 million long position in Bitcoin (BTC) on Sunday, which gained a benefit of nearly $ 6.8 million after US president Donald Trump motivated a rally across Merkad
The entrepreneur uses a $ 4 million worth of collateral to put a trade that at one point only $ 50 swing away from being liquid. The entry is at $ 85,908 with a production price of $ 84,752.
BTC instead rose more than 11% from $ 85,000 to $ 97,255 after a reference to the reserve was made on social media platform reality in society. However, the entrepreneur probably has been backing the wrong horse while ADA and XRP have experienced 47% and 18% respectively.
Trump Caught by surprise In his announcement due to the integration of XRP, Sol and Ada. Coinbase CEO Brian Armstrong and Bitwise CEO Hunter horsely said they thought the US reserve would only include Bitcoin, while those connected to Ripple and Cardano took success on social media.
Some doubtful social media users asked if the businessman had knowledge of the reserve insider, even though it was unclear whether the position was a fence or whether the businessman thought the BTC had dropped following the correction from $ 109,000 to less than $ 78,000 in the weeks from Trump’s inauguration.
The businessman has now closed his long position, realizing around $ 6.8 million income.
