Crypto Whale James Wynn Bets Big on Bitcoin With $1.25B Long Position Amid Market Surge
Prominent crypto investor James Wynn has intensified his bullish stance on Bitcoin, placing a staggering $1.25 billion long position on decentralized derivatives exchange Hyperliquid. The high-leverage bet marks a significant pivot in his trading strategy, signaling renewed confidence in Bitcoin's near-term growth.
Wynn’s latest move was first flagged by blockchain analytics platform Lookonchain on May 24. According to on-chain data, he opened a position worth 11,588 BTC using 40x leverage. His liquidation price is set at $105,180, leaving a narrow margin for error but amplifying potential gains if Bitcoin’s rally continues.
This isn’t Wynn’s first major Bitcoin play of the week. Just days earlier, on May 21, he opened a long worth $830 million—cashing in $400 million in profits within the same day. Since then, he has steadily increased his exposure, pushing his position above the billion-dollar mark as Bitcoin prices climbed.
Bitcoin’s recent surge has been attributed to increasing institutional demand and a wave of capital flowing into spot exchange-traded funds (ETFs). The cryptocurrency reached a new all-time high of over $111,000 this week, surpassing levels not seen since January.
Wynn appears confident that the bullish momentum will persist. In a public statement, he forecasted Bitcoin to reach $110,500 by the end of the day and predicted further growth to between $118,000 and $121,000 in the coming week.
Backing his optimism is a history of high-stakes trading. Wynn has previously earned $46 million in just two months by leveraging positions between 5x and 40x. In a recent post on social media platform X, he shared a screenshot showing his current long position up 13.4%, representing an unrealized profit of approximately $4.2 million.
Still, Wynn’s trading journey hasn’t been without missteps. His recent exits from Ethereum and Sui positions resulted in a combined $5.3 million loss. However, a timely trade in the meme token PEPE earned him $25.19 million, cushioning his portfolio from the impact of the altcoin losses.