04-14-2025, 10:10 AM
Mechanism Capital founder doubles Bitcoin position with a $200M long
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5M2RiMWQtNWIzZi03ZDBjLWI5YTEtYjZkNjlmM2M2ZjU3.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5M2RiMWQtNWIzZi03ZDBjLWI5YTEtYjZkNjlmM2M2ZjU3.jpg" alt="Mechanism Capital founder doubles Bitcoin position with a $200M long"></p><p>Andrew 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. <p>“Andrew Kang just doubled his Bitcoin position,” crypto analytics firm Arkham <a data-ct-non-breakable="null" href="https://x.com/arkham/status/1911124024068813099" rel="null" target="null" text="null" title="null">said</a> in an April 12 X post. It explained a crypto address tied to Kang made another $100 million <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/long-and-short-positions-explained" rel="null" target="null" text="null" title="null">long bet</a> on Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) with an expected profit, or loss, of $6.8 million.</p><p>On April 9, Arkham <a data-ct-non-breakable="null" href="https://x.com/arkham/status/1910033393502281894" rel="null" target="null" text="null" title="null">noted</a> that the Kang-tied wallet had put on a $100 million leverage-long bet on Bitcoin after US President Donald Trump <a data-ct-non-breakable="null" href="https://truthsocial.com/@realDonaldTrump/posts/114308272725981913" rel="null" target="null" text="null" title="null">posted</a> to his Truth Social platform earlier the same day that “THIS IS A GREAT TIME TO BUY!!! DJT.”</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019632e0-0abb-7f45-8563-7d2722da6615" title="" alt="Mechanism Capital founder doubles Bitcoin position with a $200M long"><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/arkham/status/1911124024068813099" rel="null" target="null" text="null" title="https://x.com/arkham/status/1911124024068813099"><em>Arkham</em></a></p></figcaption></figure><p>Just hours later, the Trump administration announced a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-president-donald-trump-issues-90-day-pause-reciprocal-tariffs" rel="null" target="null" text="null" title="null">90-day pause</a> 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.</p><p>Kang <a data-ct-non-breakable="null" href="https://x.com/Rewkang/status/1911062532435136911" rel="null" target="null" text="null" title="null">said</a> in an April 12 X post that trade war capitulation and a “Trump put” — the belief that the president will work to bump the stock market — “are the perfect combination for BTC to reverse a multi month downtrend.”</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019632e0-10dc-7cf1-b9c7-872f0344b0b9" title="" alt="Mechanism Capital founder doubles Bitcoin position with a $200M long"><figcaption style="text-align: center;"><p><em>Kang noted Trump’s April 9 Truth Social post could be a sign of the so-called “Trump put.” Source: </em><a data-ct-non-breakable="null" href="https://x.com/Rewkang/status/1909971579200479662" rel="null" target="null" text="null" title="https://x.com/Rewkang/status/1909971579200479662"><em>Andrew Kang</em></a></p></figcaption></figure><p>Meanwhile, Senate Democrats called on the Securities and Exchange Commission in an April 11 <a data-ct-non-breakable="null" href="https://www.banking.senate.gov/imo/media/doc/20250411%20Letter%20to%20SEC%20re%20DJT%20Tariff%20Insider%20Trading.pdf" rel="null" target="null" text="null" title="null">letter</a> to launch <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/trumps-crypto-insider-trading-conflict-of-interest-concerns/" rel="null" target="null" text="null" title="null">an insider trading</a> and market manipulation probe into Trump and his affiliates over the post, which they said “appears to have previewed his plans” to pause the tariffs.</p><h2>Bitcoin choppy on tariff confusion</h2><p>Bitcoin has seen an over 2% swing over the past 24 hours as the Trump administration <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/commerce-secretary-lutnick-walks-back-tariff-relief-electronics" rel="null" target="null" text="null" title="null">went back and forth</a> on tariff exemptions for Chinese electronic goods.</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cryptopunk-trader-six-year-sentence-13-m-gains" rel="null" target="null" text="null" title="null"><em><strong>NFT trader faces prison for $13M tax fraud on CryptoPunk profits</strong></em></a></p><p>Bitcoin 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 <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/bitcoin" rel="null" target="null" text="null" title="null">data</a> shows.</p><p>Trump <a data-ct-non-breakable="null" href="https://truthsocial.com/@realDonaldTrump/114332337028519855" rel="null" target="null" text="null" title="null">posted</a> to Truth Social on April 13 that “there was no tariff ‘exception’ announced on Friday,” April 11, but that levies on Chinese electronics are “moving to a different Tariff ‘bucket’” of 20%.</p><p><em><strong>Asia Express: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-honeytrap-bts-hybe-nft-asia-express/" rel="null" target="null" text="null" title="null"><em><strong>Bitcoiner sex trap extortion? BTS firm’s blockchain disaster</strong></em></a> </p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/mechanism...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5M2RiMWQtNWIzZi03ZDBjLWI5YTEtYjZkNjlmM2M2ZjU3.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5M2RiMWQtNWIzZi03ZDBjLWI5YTEtYjZkNjlmM2M2ZjU3.jpg" alt="Mechanism Capital founder doubles Bitcoin position with a $200M long"></p><p>Andrew 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. <p>“Andrew Kang just doubled his Bitcoin position,” crypto analytics firm Arkham <a data-ct-non-breakable="null" href="https://x.com/arkham/status/1911124024068813099" rel="null" target="null" text="null" title="null">said</a> in an April 12 X post. It explained a crypto address tied to Kang made another $100 million <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/long-and-short-positions-explained" rel="null" target="null" text="null" title="null">long bet</a> on Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) with an expected profit, or loss, of $6.8 million.</p><p>On April 9, Arkham <a data-ct-non-breakable="null" href="https://x.com/arkham/status/1910033393502281894" rel="null" target="null" text="null" title="null">noted</a> that the Kang-tied wallet had put on a $100 million leverage-long bet on Bitcoin after US President Donald Trump <a data-ct-non-breakable="null" href="https://truthsocial.com/@realDonaldTrump/posts/114308272725981913" rel="null" target="null" text="null" title="null">posted</a> to his Truth Social platform earlier the same day that “THIS IS A GREAT TIME TO BUY!!! DJT.”</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019632e0-0abb-7f45-8563-7d2722da6615" title="" alt="Mechanism Capital founder doubles Bitcoin position with a $200M long"><figcaption style="text-align: center;"><p><em>Source: </em><a data-ct-non-breakable="null" href="https://x.com/arkham/status/1911124024068813099" rel="null" target="null" text="null" title="https://x.com/arkham/status/1911124024068813099"><em>Arkham</em></a></p></figcaption></figure><p>Just hours later, the Trump administration announced a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-president-donald-trump-issues-90-day-pause-reciprocal-tariffs" rel="null" target="null" text="null" title="null">90-day pause</a> 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.</p><p>Kang <a data-ct-non-breakable="null" href="https://x.com/Rewkang/status/1911062532435136911" rel="null" target="null" text="null" title="null">said</a> in an April 12 X post that trade war capitulation and a “Trump put” — the belief that the president will work to bump the stock market — “are the perfect combination for BTC to reverse a multi month downtrend.”</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/019632e0-10dc-7cf1-b9c7-872f0344b0b9" title="" alt="Mechanism Capital founder doubles Bitcoin position with a $200M long"><figcaption style="text-align: center;"><p><em>Kang noted Trump’s April 9 Truth Social post could be a sign of the so-called “Trump put.” Source: </em><a data-ct-non-breakable="null" href="https://x.com/Rewkang/status/1909971579200479662" rel="null" target="null" text="null" title="https://x.com/Rewkang/status/1909971579200479662"><em>Andrew Kang</em></a></p></figcaption></figure><p>Meanwhile, Senate Democrats called on the Securities and Exchange Commission in an April 11 <a data-ct-non-breakable="null" href="https://www.banking.senate.gov/imo/media/doc/20250411%20Letter%20to%20SEC%20re%20DJT%20Tariff%20Insider%20Trading.pdf" rel="null" target="null" text="null" title="null">letter</a> to launch <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/trumps-crypto-insider-trading-conflict-of-interest-concerns/" rel="null" target="null" text="null" title="null">an insider trading</a> and market manipulation probe into Trump and his affiliates over the post, which they said “appears to have previewed his plans” to pause the tariffs.</p><h2>Bitcoin choppy on tariff confusion</h2><p>Bitcoin has seen an over 2% swing over the past 24 hours as the Trump administration <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/commerce-secretary-lutnick-walks-back-tariff-relief-electronics" rel="null" target="null" text="null" title="null">went back and forth</a> on tariff exemptions for Chinese electronic goods.</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cryptopunk-trader-six-year-sentence-13-m-gains" rel="null" target="null" text="null" title="null"><em><strong>NFT trader faces prison for $13M tax fraud on CryptoPunk profits</strong></em></a></p><p>Bitcoin 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 <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/bitcoin" rel="null" target="null" text="null" title="null">data</a> shows.</p><p>Trump <a data-ct-non-breakable="null" href="https://truthsocial.com/@realDonaldTrump/114332337028519855" rel="null" target="null" text="null" title="null">posted</a> to Truth Social on April 13 that “there was no tariff ‘exception’ announced on Friday,” April 11, but that levies on Chinese electronics are “moving to a different Tariff ‘bucket’” of 20%.</p><p><em><strong>Asia Express: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-honeytrap-bts-hybe-nft-asia-express/" rel="null" target="null" text="null" title="null"><em><strong>Bitcoiner sex trap extortion? BTS firm’s blockchain disaster</strong></em></a> </p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/mechanism...er_inbound