- Andrew Kang, the founder of Mechanism Capital, has doubled his bullish position on Bitcoin with a total of $200 million, showing strong confidence in a short-term BTC price increase.
- This move came after a post made by Trump and a surprising 90-day pause on global tariffs, which the Senate Democrats now argue could involve insider trading and market manipulation.
Mechanism Capital founder Andrew Kang has made another $100 million bet that Bitcoin will go up, doubling his first one. Arkham said a wallet connected to Kang took a second leveraged long position, making his total bitcoin bet $200 million.
Andrew Kang, the founder of the crypto investment firm Mechanism Capital, has reportedly increased his bullish bet on Bitcoin, taking a $200 million long position, according to the blockchain data shared by analytics platform Arkham.
On April 12, Arkham shared a post on X, saying that a wallet linked to Kang made another $100 million leveraged trade, raising his total investment to $200 million. The latest move has a possibility of gaining or losing about $6.8 million, showing Kang’s strong belief in a short-term Bitcoin rise.
Trump’s Trade Policy Shift Fuels Kang’s $200M Bitcoin Bet
This additional $100M bullish move came days after Kang opened his first $100 million long position on April 9. After his first buy, U.S. President Donald Trump posted on Truth Social saying, “THIS IS A GREAT TIME TO BUY!!! DJT.” Soon after the post, the Trump administration paused its recently announced global tariffs for 90 days, and this reversed the earlier negative market reaction when the tariffs took effect.
In another post on April 12, Andrew Kang said the trade war retreat and the emergence of a “Trump put” would help create the ideal setup for Bitcoin to recover. He added that the current market condition is the perfect combination for BTC to break out of its multi-month downtrend.
This situation has sparked some sort of controversy. On April 11, Senate Democrats urged the Securities and Exchange Commission (SEC) to properly investigate potential insider trading and market manipulation related to the post Trump shared. They claimed the post may have hinted at the tariff rollback, giving some people an unfair market advantage.
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