Cryptocurrency Trader James Wynn Secures $25.19 Million Profit From PEPE, Shifts $1.25 Billion to Bitcoin

Cryptocurrency trader James Wynn has recently closed out his highly successful position on the meme coin PEPE, securing over $25 million in profits. This move has shifted his focus to Bitcoin (BTC), which has recently reached an all-time high above $111,000. Wynn, known for his aggressive trading style and high-risk strategies, saw his stake in PEPE generate a substantial gain of $25.19 million.

Wynn has now pivoted his entire focus and capital to Bitcoin, opening a long position of 11,588 BTC, valued at approximately $1.25 billion. This position was opened using 40x cross leverage, making it one of the largest known individual long exposures in the current market. However, this trade carries significant risk, as Wynn’s liquidation price is $105,180, which is precariously close to the current market price of just above $108,000.

As of the latest data, the position is down approximately $7.79 million, with an additional $4.61 million lost to funding fees, pushing his unrealized losses beyond $12 million. This isn’t the first time Wynn has gone all in on Bitcoin. During a broader market downturn, he closed out losing positions in Ethereum (ETH) and Sui (SUI), realizing a $5.3 million loss. On-chain data later indicated that the trader increased his Bitcoin exposure to 11,070 BTC. This move initially resulted in a $20 million drawdown due to adverse market movement and persistent funding costs.

Wynn’s latest bullish bet on Bitcoin comes amid record-breaking price action, driven largely by a surge in institutional capital inflows. This move highlights the trader’s confidence in Bitcoin’s potential for further growth, despite the significant risks involved. The trader’s aggressive strategy and high-risk approach have once again put him in the spotlight, as he continues to navigate the volatile cryptocurrency market with bold moves.