TL;DR
- Andrew Kang, founder of Mechanism Capital, doubled his leveraged long position on Bitcoin to $200 million.
- On April 9, Trump urged buying on his Truth Social platform, followed by a government decision to suspend a tariff increase.
- The political intervention sparked accusations of market manipulation, leading Democratic senators to request an investigation.
Andrew Kang, founder of Mechanism Capital, has increased his Bitcoin bet by doubling his leveraged long position to $200 million.
The trade took place amid high market volatility, exacerbated by political decisions in the United States. According to blockchain analytics firm Arkham, a wallet linked to Kang made an additional $100 million investment, raising the total to $200 million. This move has a potential profit or loss margin of $6.8 million, depending on Bitcoin’s short-term price behavior.
ANDREW KANG’S BIG LONG
Andrew Kang just doubled his Bitcoin position.
He is now long $200M of $BTC with a PnL of $6.8 MILLION pic.twitter.com/uydZtiXpYq
— Arkham (@arkham) April 12, 2025
On April 9, Trump posted a message on his Truth Social platform, urging his followers to buy. His post was followed hours later by a government decision to suspend a tariff hike. Triggering significant volatility in both traditional and crypto markets. Kang sees this sequence of events as a signal of what some call the “Trump put,” the belief that Trump might intervene to support financial markets.
Kang and Other Investors Could Define the Market’s Direction
The situation led some Democratic senators to accuse Trump of market manipulation through the use of his social media platform. On April 11, they sent a letter to the Securities and Exchange Commission requesting an investigation into possible insider trading. This caused significant uncertainty in the markets. Which is reflected in Bitcoin’s price fluctuations, which experienced over 2% movements in a single day.
Despite the uncertainty, some traders view this as an opportunity. Bets from figures like Kang could determine the next direction of the market. The influence of institutional firms and increasing regulatory oversight could make the coming weeks crucial for the crypto market.
