The founder of the cryptocurrency venture company Mechanism Capital, Andrew Kang, doubled his bull bitcoin, opening a long position totaling $ 200 million, ARKHAM analysts said.
On April 12, a wallet associated with Kang made a second long rate of $ 100 million using a credit shoulder on Bitcoin, bringing a total position to $ 200 million.
Depending on the movement of bitcoin, profit or loss has reached $ 6.8 million, which reflects the confidence of Kanga in the nearest upward Bitcoin rally.
The expert described the current situation as the ideal for Bitcoin, referring to the obvious shift in the trading policy of the Trump administration. According to Kang, these factors create a “perfect combination so that BTC unfolds a multi -month descending trend.”
Despite the current tension in world trade and economics, Bitwise’s institutional investment company also adheres to a bull forecast for the price of bitcoin at the end of the year.
Last week, the chief investment director of BitWise Matt Housogan repeated his December forecast that Bitcoin could reach $ 200,000 until the end of 2025.
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Source: Cryptocurrency
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