Trader James Wynn Opens $568 Million Long Position in Bitcoin with 40x Leverage

James Wynn, a well-known trader, has recently garnered attention for his significant position in Bitcoin (BTC). According to a post by ai_9684xtpa, Wynn opened a long position in BTC with 40x leverage, amounting to $568 million. This move is part of his trading strategy, which often involves large positions with high leverage and frequent trading.

Wynn's trading style is characterized by high-risk, high-reward strategies. He has a history of making substantial profits from small initial investments. For instance, he once turned $7,000 into $25 million. His X profile describes him as a "world-renowned old gambler" who loves leverage and meme tokens. Wynn's first notable trade was with the token PEPE, which contributed to his rise as a prominent trader.

Since March 21st, Wynn has accumulated $38.78 million in profit, with $26.04 million still unrealized. His top three profitable assets in settled positions are TRUMP, FARTCOIN, and PEPE. His current unrealized positions include a long 40x position in BTC and a long 10x position in PEPE. Wynn's trading strategy on Hyperliquid involves maximum leverage for altcoins and meme tokens.

Wynn's market calls often accompany his position openings. He has repeatedly stated that a $100,000 BTC is "very cheap." However, his actions have sometimes raised suspicions of market manipulation. In April 2024, Wynn frequently called out ELON, attracting a group of Key Opinion Leaders (KOL) and retail investors to follow his lead. He then quietly liquidated his position using a sock puppet account, causing ELON to plummet by 70% in a short time, leaving his followers with significant losses.