{"id":127121,"date":"2025-04-14T07:20:57","date_gmt":"2025-04-14T07:20:57","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127121"},"modified":"2025-04-14T07:20:57","modified_gmt":"2025-04-14T07:20:57","slug":"mechanism-capital-founder-doubles-bitcoin-position-with-a-200m-long","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127121","title":{"rendered":"Mechanism Capital founder doubles Bitcoin position with a $200M long"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsAndrew Kang, founder of the crypto venture firm Mechanism Capital, has seemingly doubled down on his bet that Bitcoin will gain in price with a $200 million long position, onchain data shows.\u00a0<br \/>\n\u201cAndrew Kang just doubled his Bitcoin position,\u201d crypto analytics firm Arkham said in an April 12 X post. It explained a crypto address tied to Kang made another $100 million long bet on Bitcoin (BTC) with an expected profit, or loss, of $6.8 million.<br \/>\nOn April 9, Arkham noted that the Kang-tied wallet had put on a $100 million leverage-long bet on Bitcoin after US President Donald Trump posted to his Truth Social platform earlier the same day that \u201cTHIS IS A GREAT TIME TO BUY!!! DJT.\u201d<br \/>\nSource: ArkhamJust hours later, the Trump administration announced a 90-day pause on its global hiked tariff regime, which sent crypto and stocks rallying. The tariffs, first unveiled on April 2, had gone live just hours earlier and had tanked most financial markets.<br \/>\nKang said in an April 12 X post that trade war capitulation and a \u201cTrump put\u201d\u00a0 \u2014 the belief that the president will work to bump the stock market \u2014 \u201care the perfect combination for BTC to reverse a multi month downtrend.\u201d<br \/>\nKang noted Trump\u2019s April 9 Truth Social post could be a sign of the so-called \u201cTrump put.\u201d Source: Andrew KangMeanwhile, Senate Democrats called on the Securities and Exchange Commission in an April 11 letter to launch an insider trading and market manipulation probe into Trump and his affiliates over the post, which they said \u201cappears to have previewed his plans\u201d to pause the tariffs.<br \/>\nBitcoin choppy on tariff confusion<br \/>\nBitcoin has seen an over 2% swing over the past 24 hours as the Trump administration went back and forth on tariff exemptions for Chinese electronic goods.<br \/>\nRelated: NFT trader faces prison for $13M tax fraud on CryptoPunk profits<br \/>\nBitcoin hit a 24-hour low of $83,197, wiping most of the gains it made before the weekend, but it has since recovered to trade flat over the past day at around $85,000 after briefly hitting a top of $85,315, CoinGecko data shows.<br \/>\nTrump posted to Truth Social on April 13 that \u201cthere was no tariff \u2018exception\u2019 announced on Friday,\u201d April 11, but that levies on Chinese electronics are \u201cmoving to a different Tariff \u2018bucket\u2019\u201d of 20%.<br \/>\nAsia Express: Bitcoiner sex trap extortion? BTS firm\u2019s blockchain disaster\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/mechanism-capital-founder-doubles-bitcoin-position-200-million-long?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsAndrew Kang, founder of the crypto venture firm Mechanism Capital, has seemingly doubled down on his bet that Bitcoin will gain in price with a $200 million long&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127121"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127121"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127121\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127121"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}