James Wynn, a notable figure in the crypto world, has once more grabbed attention by significantly boosting his Bitcoin holdings. He recently opened a $1.2 billion investment on Hyperliquid, a platform that offers decentralized derivative trading.
Following my decision to liquidate my holdings in Ethereum, Sui, and PEPE, this action signifies a calculated strategy change, with Bitcoin becoming my primary focus as the market experiences an upward trend.
Crypto Whale Exits Altcoins to Place $1.2 Billion Leveraged Bet on Bitcoin
On May 24th, it was disclosed by blockchain monitor Lookonchain that Wynn had taken on a highly leveraged bet of 40 times, amounting to 11,588 Bitcoin, which equates to around $1.25 billion. His point of liquidation is fixed at roughly $105,180.
As a crypto investor, I’ve been on a roll with my Bitcoin investments this week. Earlier in the week, I initiated a large-scale buy position valued at approximately $830 million. To my delight, I managed to secure a substantial profit of around $400 million from that very same day. This latest move is merely an extension of those early aggressive trades.
Over the last two days, Bitcoin’s surge has boosted his wealth to more than $1 billion, a situation he now finds himself in once again.
For the last seven days, the cost of a single Bitcoin has surged to an unprecedented peak above $111,000 – a record not seen since early January.
As an analyst, I’ve observed a significant increase in momentum within the cryptocurrency market. This growth appears to be largely driven by increased institutional investment and continuous influx into spot Exchange-Traded Funds (ETFs), sparking renewed enthusiasm and optimism throughout the sector.
Currently, Wynn seems optimistic about further growth in the rally. His projections suggest Bitcoin could reach anywhere from $118,000 to $121,000 in the short term.
He forecasted that the price of Bitcoin might reach $110,500 by the end of today. He also predicted that it would fluctuate between approximately $118,000 and $121,000 during the upcoming week.
His belief is firmly rooted in his practical knowledge, having purportedly earned approximately $46 million over a span of two months through the use of leveraging that ranged from 5 times to 40 times.
Additionally, he additionally posted a snapshot on social media platform X demonstrating a 13.4% increase in his most recent Bitcoin long investment. This translates to approximately $4.2 million in potential earnings yet to be realized.
Despite some imperfections in his past performance, it’s worth noting that his latest moves in the cryptocurrency market have resulted in significant losses. He recently exited his positions in Ethereum and Sui, accumulating a total loss of $5.3 million. However, he managed to compensate for these losses with a profitable trade worth approximately $25.19 million on PEPE.
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2025-05-24 18:10